The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

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

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.

Related content

WEBINAR

Upcoming Webinar: Brexit: Reviewing the regulatory landscape and the data management response

Date: 11 May 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes With Brexit behind us and the UK establishing its own regulatory regime having failed to reach equivalence with the EU, financial firms face challenges of double reporting, uncertainty about UK regulation, and a potential exodus of top talent. The...

BLOG

A-Team Group Names Winners of Data Management Insight Awards 2020

A-Team Group has announced the winners of its prestigious Data Management Insight Awards 2020. The annual awards, now in their eighth year, recognise leading providers of data management solutions, services and consultancy to capital markets participants. The award winners were announced online across categories ranging from best sell-side and buy-side data management platforms to best...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that will be held in June 2021 with an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...