BlueMountain taps TriOptima for OTC derivatives portfolio reconciliation

Source: TriOptima

TriOptima today announced that BlueMountain Capital Management, a multi-strategy fund manager specializing in the corporate and consumer credit markets with approximately $4 billion in assets, has joined triResolve, the leading counterparty exposure management service for OTC derivatives including portfolio reconciliation and dispute resolution.

"All the G-14 dealers who are our major counterparties are on the triResolve service," said Marc Valdes, Head of Collateral Management and Funding at BlueMountain. "As we increase the frequency and scope of our reconciliation activities, we can accomplish our goals quickly in one place. Also, the speed of implementation makes transitioning to triResolve very easy."

Currently, 5.5 million trades from 2,400 legal entities are regularly reconciled through triResolve. This represents 75% of all non-cleared OTC derivative transactions. Users include the G-14 banks, hedge funds, asset management firms, asset servicers, other buyside organizations, and regional banks.

"We are pleased that BlueMountain has decided to implement triResolve," said Raf Pritchard, CEO of TriOptima North America. "triResolve is very attractive to buy-side firms because it offers sophisticated functionality including a fully-automated process for exchanging data with counterparties, advanced analytics of mark-to-market value discrepancies, and a robust dispute resolution tool. Also, having all their major counterparties in one place makes the reconciliation process very efficient."

In addition to all types of credit derivatives, triResolve participants submit all their fx, equity, commodity, energy, interest rate, and structured derivative trades to the triResolve service for reconciliation. Over 4 million trades are now reconciled daily on the triResolve service.

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