About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

TriOptima launches OTC Derivatives Interest Rate Trade Reporting Repository for Banking Regulators

Subscribe to our newsletter

TriOptima announced that banking regulators have received the first reports from the newly launched OTC Derivatives Interest Rate Trade Reporting Repository (the IR TRR). Fourteen major financial institutions submitted data for their non-cleared OTC interest rate derivatives trade portfolios covering trades with G-15 institutions, buy side organisations and other financial and non-financial institutions.

As of 15 January, regulators will receive a series of reports each month summarising market volumes for OTC interest rate derivatives showing outstanding trade volumes and gross notionals as well as currency breakdowns and maturity profiles by product type. All counterparty data has been anonymised to ensure client confidentiality and compliance with jurisdictional guidelines and regulations on privacy and confidentiality.

“We were able to work in concert with the OTC Derivatives Regulators’ Forum, major banks, buy-side firms and TriOptima to achieve a successful launch within very tight deadlines,” said Jon Eilbeck, chair of the ISDA Rates Steering Committee and chief operating officer for global rates at Deutsche Bank . “It demonstrates the industry’s ongoing commitment to enhancing the OTC derivatives infrastructure, reducing systemic risk and improving transparency in the OTC derivatives marketplace.”

“The ability to leverage the technical infrastructure of our existing triResolve platform was key to ensuring that the Interest Rate Trade Reporting Repository was operational by year end,” said Brian Meese, TriOptima CEO. “Our technology has proven extremely resilient in meeting the volume levels, data security standards and flexible reporting capabilities required by the financial institutions and the regulators. We look forward to continuing our close collaboration with industry and regulatory representatives to phase in additional reporting sources and outputs.”

The IR TRR holds summary transaction-level information for the full range of non-cleared OTC derivative interest rate transactions, including caps/floors, forward rate agreements, options, swaps, swaptions, and cross currency swaps. Plans for future phases are being discussed in the ongoing dialogue between market participants, global regulators and TriOptima.

Following a request for proposal process, representatives from sell side and buy side institutions comprising ISDA’s Rates Steering Committee selected TriOptima to provide the IR TRR in October.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to apply innovative e-comms surveillance whilst ensuring control, compliance and enhanced productivity

Remember the days when email was the predominant media for electronic communications within and among financial institutions? Fast forward to today, and email represents a declining fraction of these e-comms, many of which are hosted by modern collaborative platforms such as Microsoft Teams, Webex, Slack, and Zoom, and all of which are subject to surveillance....

BLOG

SEC No-Action Lapse Poses Threat to Investment Research Flows, Survey Finds

Last month’s SEC decision to allow its MiFID II research no-action letter to lapse could damage relationships between European/global asset managers and US brokers, potentially disrupting the investment research market, according to a report by Substantive Research, which operates a research analysis and delivery platform. The SEC’s no-action letter – now set to expire in...

EVENT

RegTech Summit New York

Now in its 6th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...