TriOptima, an infrastructure service provider based in Stockholm, has announced that it offers integration via SWIFT to the four main tri-party agents; BNY Mellon, Clearstream, Euroclear and JP Morgan.
The company’s clients will have direct connectivity to tri-parties via SWIFT for sending instructions as well as receiving status messages and end-of-day reports.
As phase five of the uncleared margin rules (UMR) comes into effect in September, firms in scope will need to ensure they have the right infrastructure in place to exchange initial margin (IM) efficiently. This involves carrying out IM calculations, proactively monitoring their exposure and integrating with tri-party agents.
Joakim Strömberg, head of triResolve Solutions, TriOptima says: “Extending the margin call process to incorporate instructions to the custodian reduces the manual steps in the process, which ultimately reduces the risk of delayed or failed settlements.
“By using our SWIFT automation, clients do not have to build and maintain their own integration to the tri-party agents.”
Ted Leveroni, head of margin services at BNY Mellon adds: “With just a few weeks to go until the September go-live, and the bigger challenges to come in phase six, TriOptima’s integration with SWIFT will expedite the onboarding process for mutual clients turning to our firm to connect them to the services they need to meet their UMR obligations.”
