TriOptima, the division of ICAP plc (LON:IAP) which provides post trade risk management services and infrastructure for OTC derivatives announces today that Taipei Fubon Commercial Bank (Fubon) is the first Taiwanese financial institution to join its triResolve portfolio reconciliation service. triResolve has grown 350% in Asia Pacific since 2012; and the service continues to add subscribers in the region. According to ICAP, 1,300 firms currently use triResolve globally.
Market participants which include Fubon have begun to reconcile regularly to accommodate their US and European counterparties who are required to reconcile their portfolios and manage their collateral disputes in a timely manner, as well as other APAC institutions. Proactive portfolio reconciliation is an important risk management tool that many APAC firms are adopting as best practice in response to global regulation and increased margin activity.
“We are working closely with Taiwanese institutions to advance their risk management initiatives by joining triResolve” said Yutaka Imanishi, CEO of TriOptima Asia Pacific. “The introduction of two-way variation margin in 2015 will require the adoption of a robust reconciliation and dispute resolution process like that offered by triResolve.”
triResolve users in APAC cover a wide range of customer types including banks, insurance companies, securities firms, energy companies, hedge funds, investment managers, and sovereign wealth funds and government treasuries in Australia, Hong Kong, Japan, Singapore, South Korea and Taiwan.
For the official announcement from ICAP, click here.