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TriOptima Extends Collaboration with DTCC on Reconciliation of SecFinance Transactions

Infrastructure service firm TriOptima said yesterday that it had extended data connectivity between The Depository Trust & Clearing Corporation (DTCC) Global Trade Repository (GTR) service and TriOptima’s triResolve platform to help market participants validate their reported securities financing transactions as they prepare for Securities Financing Transactions Regulation (SFTR) compliance.

Through this enhanced initiative, said TriOptima, firms are now able to compare and align DTCC GTR trade records with their reported data fields in triResolve, allowing users to quickly identify and address any discrepancies, as well as amend reporting more quickly.

“From margin-lending transactions on a daily basis, to numerous collateral updates and valuations, market participants face a huge task when it comes to reporting,” said Raf Pritchard, Head of triResolve. “This collaboration with DTCC is an important step to ensuring accuracy of data in the repositories for a traditionally under-reported part of the market.”

Under SFTR, set to come into effect for phase-one and two reporting on July 13, market participants are fully responsible for the accuracy of information when reporting their repo and securities lending transactions to trade repositories either directly, or through a delegated third party.

“As Europe’s largest trade repository, we remain committed to working with third-party providers to help the industry prepare for new regulatory reporting requirements,” said Val Wotton, Managing Director, Product Development & Strategy of Repository & Derivatives Services at DTCC. “The extension of our relationship with triResolve to cover securities financing transactions is key to achieving our goal of promoting greater common standards across the market while providing greater value to our clients.”

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