triCalculate 2018 Round-up

10 December 2018
8:25 PM

Thomas Griffiths

Thanks to our customers across the sell- and buy-side, triCalculate has seen substantial and sustained global growth over the last couple of years. In this blog post we’ll round up some key highlights from 2018.

We are proud to have been recognised with several awards in 2018, a testament to the significant investment and development we’ve made in the triCalculate service. We thank our valued clients for your support.

Anticipating and fulfilling clients’ requirements

All clients get immediate access to all new functionality at no additional cost. Our “risk as a service” model thus evolves with ever-changing market conditions and requirements seamlessly and efficiently.

While triCalculate has offered accelerated MVA calculations since 2017, this year we added functionality for CCP-MVA for initial margin costs associated with trading with central counterparties. This new feature is critical to our customers who are affected by the initial margin rules and want to understand their expected costs of posting initial margin.  triCalculate now offers MVA for both bilateral and cleared trades.

We have also upgraded our functionality on our real-time analytics. Our pre-deal check tool allows users to run various pre-deal scenarios to understand the incremental XVA costs of adding or removing one or more trades to a netting set and make quick decisions on the optimal netting set for new trades.

Proud to be recognised by the market

In April we were delighted to take part in the Waters Sell-Side Tech Awards as the winner of the Best Sell-Side Analytics Product. Victor Anderson, editor-in-chief of Waters Magazine and WatersTechnology, said: “triCalculate, which emerged top in this ever-competitive category, is a flexible, centralised platform for XVA and PFE analysis. Its broad sell-side appeal is thanks to the incorporation of market standard models that can be used by all sell-side participants.”

In June, triCalculate was included in the Chartis Research Tech Solutions for Credit Risk 2.0 Report as a Category Leader. Chartis’ analysts particularly noted the depth and breadth of our functionality, technology and content, ability to capture share in the credit risk market, and the sustainable, profitable growth of our business. The solution received the highest possible grading for the quality of its analytics. Rob Stubbs, Head of Research at Chartis, said: “TriOptima’s rating reflects its solid web-based service approach and analytics capabilities, which give it a firm grounding for the future.

Last month we were recognised in the Waters Buy-Side Tech Awards as the Best Buy Side Pricing/ Valuation Service. Most valuation methodologies are fairly well standardised, so the challenge for the buy-side is more around infrastructure, which is where our clients benefit from a resource- and cost-efficient service that reduces operational burden. To help our clients achieve compliance with the exchange of regulatory initial margin we offer SIMM sensitivities calculations, backtesting, and a range of IM analytics. And we’ve also helped automate our clients’ workflows for both variation and initial margin in conjunction with our colleagues in triResolve.

With both triCalculate XVA and triCalculate Valuation services receiving awards for their offerings this year, the industry’s transition from large software installations towards a cost- and resource-efficient approach for risk analytics is clearly demonstrated. We fully anticipate this trend to continue as the cost efficiencies of cloud-based infrastructure together with superior customer support give clients the incentive to move away from outdated and expensive legacy risk systems.

This trend was reinforced with our placement in the Chartis Research RiskTech 100 list for the very first time. The ranking places TriOptima in the top 25 risk technology vendors globally. RiskTech100 is recognised around the world as a reliable hub for analysis of the risk technology marketing place and the companies operating within it. XVA was a key highlight of Chartis’ 2018 research program, and with customers’ increasing focus on resource-efficiency and flexibility, our ranking is a testament to triCalculate’s sophisticated XVA analytics via our centralised, scalable, web-based technology.

These accolades would not be possible without the support of our clients. Thank you and we look forward to continuing to work closely with you in 2019.