BlueMountain Capital Management, a multi-strategy fund manager specializing in the corporate and consumer credit markets, has adopted TriOptima's triResolve, a counterparty exposure management service for OTC derivatives including portfolio reconciliation and dispute resolution.

In addition to all types of credit derivatives, triResolve participants submit all their fx, equity, commodity, energy, interest rate and structured derivative trades to the triResolve service for reconciliation, claimed TriOptima.

Marc Valdes, head of collateral management and funding at BlueMountain, said: “All the G-14 dealers who are our major counterparties are on the triResolve service. As we increase the frequency and scope of our reconciliation activities, we can accomplish our goals quickly in one place. Also, the speed of implementation makes transitioning to triResolve very easy.”

Raf Pritchard, CEO of TriOptima North America, said: “We are pleased that BlueMountain has decided to implement triResolve. triResolve is very attractive to buy-side firms because it offers sophisticated functionality including a fully-automated process for exchanging data with counterparties, advanced analytics of mark-to-market value discrepancies, and a robust dispute resolution tool. Also, having all their major counterparties in one place makes the reconciliation process very efficient.”