TriOptima Extends Collaboration with DTCC to Meet Client Securities Financing Transactions Reconciliation Needs

Rhea-AI Summary

TriOptima has enhanced data connectivity between DTCC's Global Trade Repository (GTR) and its triResolve platform to aid firms in validating securities financing transactions ahead of the Securities Financing Transactions Regulation (SFTR) compliance deadline on July 13. This collaboration enables users to align DTCC GTR records with their reported data, facilitating quicker identification of discrepancies. The initiative aims to improve data accuracy in the securities financing market, historically underreported.

Positive

• Enhanced collaboration between TriOptima and DTCC promotes accuracy in securities financing reporting.
• Facilitates compliance with SFTR regulations, aiding market participants in managing their reporting responsibilities.

Negative

• None.

LONDON and NEW YORK, July 8, 2020 /PRNewswire/ -- TriOptima, a leading infrastructure service that helps to lower costs and to mitigate risk in OTC derivatives markets, has extended data connectivity between The Depository Trust & Clearing Corporation (DTCC) Global Trade Repository (GTR) service and TriOptima's triResolve platform to help market participants validate their reported securities financing transactions as they prepare for Securities Financing Transactions Regulation (SFTR) compliance.

Through this enhanced initiative, firms are now able to compare and align DTCC GTR trade records with their reported data fields in triResolve, allowing users to quickly identify and address any discrepancies, as well as amend reporting more quickly.

"From margin-lending transactions on a daily basis, to numerous collateral updates and valuations, market participants face a huge task when it comes to reporting," said Raf Pritchard, Head of triResolve. "This collaboration with DTCC is an important step to ensuring accuracy of data in the repositories for a traditionally under-reported part of the market."

"As Europe's largest trade repository, we remain committed to working with third-party providers to help the industry prepare for new regulatory reporting requirements," said Val Wotton, Managing Director, Product Development & Strategy of Repository & Derivatives Services at DTCC. "The extension of our relationship with triResolve to cover securities financing transactions is key to achieving our goal of promoting greater common standards across the market while providing greater value to our clients."

Under SFTR, set to come into effect for phase-one and two reporting on July 13, market participants are fully responsible for the accuracy of information when reporting their repo and securities lending transactions to trade repositories either directly, or through a delegated third party.

For more information on triResolve's portfolio reconciliation platform, please visit https://www.trioptima.com/triresolve/.

As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.  With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively.  Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc.  All other trademarks are the property of their respective owners.

CME-G

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SOURCE CME Group

FAQ

What is the new collaboration between TriOptima and DTCC about?

The collaboration enhances data connectivity to help firms validate their securities financing transactions ahead of SFTR compliance.

When does the SFTR compliance deadline take effect?

The SFTR compliance deadline takes effect on July 13, 2020.

How does TriOptima's triResolve platform assist market participants?

The triResolve platform helps users align DTCC GTR trade records with reported data to identify discrepancies quickly.

What are securities financing transactions?

Securities financing transactions include repurchase agreements and securities lending, which require accurate reporting under SFTR.