MARGIN SERVICES

PORTFOLIO RECONCILIATION

Margin calls are often seen as a back-office formality, but when market volatility hits, they risk escalating into a cascade of liquidity challenges that reverberate throughout the financial system. Neil Murphy, OSTTRA, explains how participants can improve their readiness for uncertain times and navigate the storm.

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Easily and efficiently manage your daily margin calls – including bilateral OTC, cleared, repo and ETD – all in one space.

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If you’re not already using OSTTRA triResolve Margin service to support your end to end collateral process – from margin calculation to settlement – or you would like to find out more, please contact the OSTTRA team.

For margin calls managed outside of the Acadia messaging network, you can now leverage our new capabilities to streamline counterparty communications. triResolve Margin now provides an AI-generated summary of email communication with counterparties, removing the need to manually read emails in Outlook. This is designed to aid your decision-making and gives a quick view of key actions and status changes in the margin call.

To learn more please contact us.

Our Margin Analytics framework offers a complete solution for understanding and optimising collateral movements for OTC derivatives, enabling proactive decision-making and robust risk control.

Achieve more precise margin forecasting and efficient resource usage across bilateral, cleared, and ETD margin. Instantly understand your margin movements, then pinpoint the exact causes of any changes with our powerful explanation and investigation tools.

Scenario analysis tools allow you to confidently navigate market shifts and potential shocks, enabling you to plan and act pre-emptively. And with robust backtesting and forecasting you’ll not only verify historical coverage but also more accurately predict possible future margin requirements.

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OSTTRA triResolve Dispute Manager provides a complete, automated workflow for margin call disputes. By instantly combining margin call data with underlying portfolio reconciliation results, it defines and tracks all ongoing disputes, allowing you to effectively prioritise investigations for fast resolution. You can analyse your margin activity, tracking dispute and unsecured exposure trends, to identify the main drivers and root causes.

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The ISDA SIMM 2.8+2506 update is a critical moment for change – are your margin models ready? Discover why firms must transition from reactive IM monitoring to a proactive strategy to navigate the challenges of this complex and evolving margin landscape.

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Uncleared margin rules continue to be implemented across the world. The latest jurisdictions for Initial Margin:

• India – April 2025
• Indonesia, (IM and VM) – September 2025

➜ ISDA OTC Derivatives Calendar

The core industry drive is clear: eliminate fragile, manual processes to achieve financial stability. By introducing standardisation across all agreements, firms are making reconciliation and margin practices more accurate, directly leading to fewer disputes and greater operational resilience.

Over 2,100 groups are automating their reconciliation process across all asset classes with our growing network. Increased adoption is being observed across a broader range of products, extending beyond traditional bilateral OTC derivatives. This includes:

• Securities financing
• Cleared products (including exchange-traded derivatives)
• Internal trades

This expanded usage also covers total equity, collateral holdings as well as reconciliation of trades in all global repositories.

In particular, we’ve observed accelerated growth of over 75% in GMRA and MSFTA reconciliations and in margin of more than 20%.

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We offer an end-to-end post-trade solution that simplifies and automates the entire lifecycle for Exchange-Traded Derivatives.

The latest ETD reconciliation development is complete. It encompasses Total Equity, Position, and Transactions Reconciliation. This provides you with a single complete overview, making it simple to spot and address any discrepancies.

We’ve included an automated workflow, plus, you get immediate access to all the underlying details, ensuring your reconciliation process is as highly efficient as possible.

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Our Analytics tool provides comprehensive trend analysis across your trade portfolio, consolidating reconciliation, risk, and collateral data into actionable insights. It helps you monitor operational efficiency and meet regulatory needs by automatically identifying the root cause and main drivers of disputes, tracking key risk metrics like average unsecured exposure and dispute ages, and pinpointing systemic issues using peer group benchmarking.

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Gone are the days of back and forth email exchange agreeing settlement amounts. Our Cash Flow Management solution is a bilaterally configurable central matching engine which pairs cashflows, shows differences and links to underlying trades and reconciliations. Optional netting functionality allows the compression of these agreed cashflows, to give participants efficient settlement shapes.

Links to OSTTRA triResolve, MarkitWire and our Settlement Messaging services allow us to automate end-to-end where desired.

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TAKE ACTION

Over 150 clients have taken advantage of the direct link between OSTTRA triResolve and the confirmation data in OSTTRA MarkitWire. If you haven’t signed up for this free service please contact us.

The FMSB Uncleared Margin Survey showed that FX timings are a major driver of disputes for 85% of respondents.

Is FX timing a challenge for your operations? If so, please contact us for more information on our latest development, contact our team.

To learn more about our development progress on the Equity Swap Wrapper, get in touch.