Singapore-based DBS Bank has selected TriOptima’s triResolve, a web-based network community service that offers counterparty exposure management service, for OTC derivatives portfolio reconciliation and dispute resolution.
TriOptima, an ICAP Group company and a provider of OTC derivatives infrastructure services, said that triResolve offers regional banks and buy side firms with OTC derivatives portfolios a fully-automated process for exchanging data with counterparties, advanced analytics of mark-to-market value discrepancies, and a dispute resolution tool.
DBS Bank technology and operations managing director Sandra Stonham said that triResolve helps facilitate interactive communication with counterparts on the reconciliation status and its proactive approach enables us to identify credit risks or unusual trade differences quickly.
“Since adopting the service, we have been able to reduce reconciliation run times by up to 85 per cent,” Stonham said.
TriOptima Asia Pacific CEO Peter Weibel said that portfolio reconciliation and the triResolve service play an important role in meeting regulatory demand for improved risk management controls and ensuring efficient, safe and sound derivatives markets.
TriOptima claimed that triResolve participants submit all their FX, equity, commodity, energy, interest rate, and structured derivative trades for reconciliation.