LONDON and NEW
YORK, Sept.
2, 2020 /PRNewswire/ -- TriOptima has extended its
collaboration with AcadiaSoft to automate monthly collateral
interest payments, making trade processing more efficient for
over-the-counter (OTC) market participants.
According to International Swap Dealers Association (ISDA) data,
cash collateral accounts for approximately 70% of all collateral
exchanged for non-cleared derivatives, equivalent to $1.3 trillion in 2019 alone. A significant
proportion of this market still relies on email and manual
reconciliation to manage the interest process. Now, with
TriOptima's expanded support for AcadiaSoft's new interest payments
messaging, the wider industry can benefit from increased
efficiencies.
"Our clients are aiming to automate large parts of their
collateral management lifecycle as they prepare for upcoming phases
of the uncleared margin rules (UMR)," said Neil Murphy, Business Manager at TriOptima.
"Enabling clients to process interest in an efficient way, that
allows reconciliation of underlying balances and automated
matching, is part of that process. triResolve Margin connects
more than 200 counterparties to the AcadiaSoft network; hence this
collaboration automatically provides the wider market with improved
post-trade processing capabilities."
"We're excited to extend our work with TriOptima to offer
payment matching functionality to our mutual clients," said
Mark Demo, Head of Community
Development at AcadiaSoft. "It's another step toward complete
collateral process automation and will help more firms reduce the
amount of time required to complete their monthly cash collateral
interest process. It also builds on our goal of increased
network connectivity across the industry."
TriOptima is a part of CME Group. For more information on
TriOptima offerings, visit here. For more information on triResolve
Margin's collateral management platform, click here. For more
information on AcadiaSoft's Margin Manager platform, click
here.
About CME Group
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.
About AcadiaSoft
AcadiaSoft, Inc. is the leading
industry provider of risk and collateral management services for
the non-cleared derivatives community. AcadiaPlus is a new
generation open platform that provides the sell-side, the buy-side
and fund administrators with specialist applications and a
third-party partner ecosystem for the straight-through processing
of the entire risk mitigation lifecycle. Backed by 16 major
industry participants and market infrastructures, AcadiaSoft is
used by a community of more than 1,100 firms exchanging
approximately $700B of collateral on a daily basis via
its margin automation services. AcadiaSoft is headquartered
in Norwell, MA, and has offices in London, New
York and Tokyo. For more information, visit
acadiasoft.com. Follow us on Twitter:
https://twitter.com/AcadiaSoft_ and LinkedIn:
https://www.linkedin.com/company/acadiasoft-inc/.
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