TriOptima's triResolve Margin Connects to Major Tri-Party Agents Through SWIFT
TriOptima has launched SWIFT integration with major tri-party agents including BNY Mellon, Clearstream, Euroclear, and J.P. Morgan. This integration allows clients to send instructions and receive reports seamlessly, addressing upcoming phase five of uncleared margin rules (UMR). Automated processes will reduce manual steps, mitigating risks associated with delayed settlements. Industry leaders noted the significance of this integration in expediting client onboarding and enhancing operational efficiencies, crucial for meeting regulatory obligations.
- SWIFT integration allows clients direct connectivity to major tri-party agents.
- Automation reduces manual steps in the margin call process, enhancing efficiency.
- Facilitates compliance with impending UMR phase five requirements.
- None.
LONDON and CHICAGO, Aug. 18, 2021 /PRNewswire/ -- TriOptima, a leading infrastructure service that helps to lower costs and to mitigate risk in OTC derivatives markets, has announced that it now offers integration via SWIFT to the four main tri-party agents; BNY Mellon, Clearstream, Euroclear and J.P. Morgan.
TriOptima's clients will have direct connectivity to tri-parties via SWIFT for sending instructions as well as receiving status messages and end of day reports.
With phase five of the uncleared margin rules (UMR) coming into effect in September, firms in scope will need to ensure they have the right infrastructure in place to exchange initial margin (IM) efficiently. This involves carrying out IM calculations, proactively monitoring their exposure and integrating with tri-party agents.
"Extending the margin call process to incorporate instructions to the custodian reduces the manual steps in the process which ultimately reduces the risk of delayed or failed settlements," said Joakim Strömberg, Head of triResolve Solutions, TriOptima. "By using our SWIFT automation, clients do not have to build and maintain their own integration to the tri-party agents."
"BNY Mellon has developed a range of collateral segregation options in order to maximize our flexibility in serving clients ahead of UMR phases five and six, including third party segregation and our fully automated tri-party segregation AccessEdge offering," says Ted Leveroni, Head of Margin Services, BNY Mellon. "With just a few weeks to go until the September go-live, and the bigger challenges to come in phase six, TriOptima's integration with SWIFT will greatly expedite the onboarding process for mutual clients turning to our firm to connect them to the services they need to meet their UMR obligations."
"Automating the trade all the way through to the settlement goes a long way to helping firms drive operational efficiencies and deliver greater transparency," said Richard Glen, Head of Collateral Management, Clearstream.
"By integrating into the four main tri-party agents; TriOptima offers buyside firms' easier access to tri-party services, further facilitating preparations for UMR phase five. Ultimately, the broader adoption of tri-party services that interlink margin and settlement processes will reduce risk, meet regulatory requirements and improve market efficiency," said Olivier Grimonpont, Head of Global Collateral Management at Euroclear.
"The integration between tri-party agents and TriOptima via SWIFT is an important step forward for the market in an effort to simplify onboarding and ease the burden of testing for mutual clients," said Ed Corral, Global Head of Collateral Management Strategy at J.P Morgan.
For more information on triResolve contact us at info@trioptima.com.
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
View original content:https://www.prnewswire.com/news-releases/trioptimas-triresolve-margin-connects-to-major-tri-party-agents-through-swift-301357290.html
SOURCE CME Group
FAQ
What is TriOptima's recent announcement regarding SWIFT integration with tri-party agents?
How does TriOptima's SWIFT integration help with UMR phase five compliance?
What benefits does the integration of TriOptima and SWIFT provide to clients?
When does the UMR phase five go into effect?
How does the integration affect the margin call process?
