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.
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
There are various ways for financial institutions to benefit from advanced technologies and business models provided by FinTech's. Whether a business' approach is radical or incremental, data management can help a company to increase their return on investment, argues André Casterman, INTIX.
Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, discusses how he is using blockchain, the challenges he will face in his role of treasury over the next 12 months and the advice he would give to someone starting out their career in treasury.
As the May 25 deadline for Europe’s General Data Protection Regulation (GDPR) inches closer, many treasurers are being lumped with the task of ensuring their wider company is compliant.