FinTechAutomationTriOptima Launches UTI Pairing Functionality for EMIR Compliance on OTC Derivatives

TriOptima Launches UTI Pairing Functionality for EMIR Compliance on OTC Derivatives

Risk management specialist TriOptima has launched a unique trade ID (UTI) pairing functionality to assist firms preparing for the European trade repository reporting effective February 2014.  The service accommodates paper-confirmed trades and foreign exchange (FX) trades without a common match ID.

European Market Infrastructure Regulation (EMIR) trade reporting rules require that trades outstanding during the specified period before the effective date be reported to a trade repository. In order to achieve this backloading, firms must agree UTIs for those trades.

TriOptima, which is part of ICAP Group, said that the new service enables firms using triResolve to assign a UTI to paper-confirmed over the counter (OTC) derivative trades and FX trades lacking a common match ID, also leveraging triResolve’s population of matched trades to centrally generate UTIs where a common match ID does not exist. If one side has already generated a UTI, triResolve will share the UTI with the counterparty.

While many OTC derivative trades are electronically confirmed, there is an inventory of paper-confirmed trades or FX trades that will require counterparties agree a UTI for reporting purposes.

“Standard identifiers are essential to realising the benefits of increased regulatory reporting, and we are delighted to support our subscribers in the key role of assigning and distributing these identifiers,” said Raf Pritchard, chief executive officer (CEO) of triResolve.

Related Articles

Bridging the financial automation gap

Automation Bridging the financial automation gap

3w Sven Lindemann
“Simple” forecasting methods are still better

Automation “Simple” forecasting methods are still better

4w Conor Deegan
AI can transform trade finance through better SME credit scoring

Automation AI can transform trade finance through better SME credit scoring

1m Michael Bellacosa
From moonshot to reality: AI's advances in corporate banking

Automation From moonshot to reality: AI's advances in corporate banking

4m Alenka Grealish
Digitization and the role of the digital treasurer – part 2

Automation Digitization and the role of the digital treasurer – part 2

4m Victor Penna
Burn those spreadsheets - and 4 other ways that treasurers can help their CFOs sleep better

Automation Burn those spreadsheets - and 4 other ways that treasurers can help their CFOs sleep better

4m Bob Stark
"The architecture of financial markets has changed": Stefan Bielmeier, DZ Bank

Automation "The architecture of financial markets has changed": Stefan Bielmeier, DZ Bank

5m Victoria Beckett
Digital treasury: A future state vision

Automation Digital treasury: A future state vision

5m Eric Cohen