TriOptima launches portfolio reconciliation service

The company says that seven major dealers, including Barclays Capital, Goldman Sachs, Morgan Stanley, UBS and Wachovia, have been using the service since early this year, and have reconciled more than 1.2 million trades.

The web-based service allows participants to submit their portfolios for comparison and reconciliation; TriOptima says it will "reduce collateral disputes, operational costs and errors in credit exposure calculation".

A report from the Bank of International Settlements, published in March, called on dealers to "work towards daily portfolio reconciliations with their most active counterparties", in order to reduce risks associated with backlogs of trades.

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