vocabulary:
  name: Trioptima Vocabulary
  description: >-
    Domain vocabulary for Trioptima post-trade infrastructure services,
    covering portfolio compression (triReduce), portfolio reconciliation (triResolve),
    and related OTC derivatives risk management concepts.
  version: "2026"
  created: "2026-05-03"
  modified: "2026-05-03"

terms:
  - term: Portfolio Compression
    definition: >-
      A process that reduces the gross notional outstanding of OTC derivatives portfolios
      by identifying and terminating economically offsetting trades and replacing them
      with a smaller set of replacement trades that preserve the net risk profile.
      Compression reduces operational burden, counterparty exposure, and regulatory
      capital requirements under Basel III / CRR2.
    tags:
      - Capital Optimization
      - Compression
      - Risk Management

  - term: triReduce
    definition: >-
      Trioptima's multilateral portfolio compression service for OTC interest rate,
      credit, and FX derivatives. triReduce organizes compression cycles in which
      multiple participants submit trade and risk data. An optimization algorithm
      identifies the maximum set of trades that can be terminated while preserving
      each participant's risk profile within specified tolerances.
    tags:
      - Compression
      - Services

  - term: triResolve
    definition: >-
      Trioptima's portfolio reconciliation service for OTC derivatives. triResolve
      normalizes trade data submitted by bilateral counterparties, reconciles all
      trade fields algorithmically, and provides break workflow for identifying and
      resolving discrepancies in trade populations and valuations.
    tags:
      - Reconciliation
      - Services

  - term: Compression Cycle
    definition: >-
      A scheduled compression run in triReduce. A cycle has a defined submission
      deadline (by which participants must submit trade and risk data), an optimization
      date (when the algorithm runs), and a settlement date (when terminations and
      new trades are processed). Cycles are classified by asset class (IRS, CDS, FX)
      and clearing type (cleared, bilateral).
    tags:
      - Compression
      - Lifecycle

  - term: Delta Ladder
    definition: >-
      A representation of a portfolio's interest rate risk broken down by tenor bucket
      (1Y, 2Y, 5Y, 10Y, 30Y, etc.), expressed as DV01 (dollar value of a basis point).
      In triReduce, participants submit delta ladders as risk constraints to define the
      maximum allowable change in their aggregate risk profile after compression.
    tags:
      - Risk Management

  - term: DV01
    definition: >-
      Dollar Value of a Basis Point. The change in mark-to-market value of a portfolio
      for a 1 basis point (0.01%) parallel shift in interest rates. Used as the primary
      risk measure in triReduce delta ladder submissions.
    tags:
      - Risk Management

  - term: Notional Reduction
    definition: >-
      The reduction in gross notional outstanding achieved by a compression cycle.
      Expressed as an absolute amount and as a percentage of the original notional.
      Higher reductions indicate more efficient compression and greater capital savings.
    tags:
      - Capital Optimization
      - Metrics

  - term: Trade Break
    definition: >-
      A discrepancy identified during portfolio reconciliation where two counterparties
      report different economic terms or valuations for the same trade. triResolve
      categorizes breaks by severity and provides workflow tools for investigation
      and resolution.
    tags:
      - Reconciliation
      - Risk Management

  - term: UTI
    definition: >-
      Unique Trade Identifier. A globally unique identifier for an OTC derivatives
      trade, required under EMIR and CFTC reporting regulations. Used in triReduce
      to identify individual trades within compression cycles.
    tags:
      - Compliance
      - Trade Identification

  - term: LEI
    definition: >-
      Legal Entity Identifier. A 20-character alphanumeric code that uniquely identifies
      legal entities participating in financial transactions. Required for EMIR/Dodd-Frank
      reporting and used in triResolve to identify counterparties.
    tags:
      - Compliance
      - Identity

  - term: CCP
    definition: >-
      Central Counterparty. A financial institution that interposes itself between
      the buyer and seller of a derivative contract, becoming the buyer to every
      seller and the seller to every buyer. Examples: LCH, CME Clearing, Eurex Clearing.
      Cleared compression via triReduce requires CCP participation.
    tags:
      - Clearing
      - Market Infrastructure

  - term: OSTTRA
    definition: >-
      A post-trade services company formed in 2021 as a joint venture combining
      MarkitServ, Traiana, TriOptima, and Reset. OSTTRA provides comprehensive
      post-trade processing infrastructure for OTC derivatives including confirmation,
      compression, reconciliation, and reporting services.
    tags:
      - Corporate

  - term: QuickPort
    definition: >-
      triResolve's secure portfolio data delivery interface. Allows participants to
      upload trade data manually via web browser or programmatically via SFTP API
      file transfer. Provides a fast path for participants who cannot use direct
      API integration.
    tags:
      - Integration
      - Reconciliation