|[May 06, 2014]
TriOptima Completes First Cross Currency triReduce Compression Cycle Eliminating ¥12.318 Trillion Notional Principal in JPY/USD Swaps
NEW YORK & LONDON --(Business Wire)--
TriOptima, provider of OTC derivative post trade services, announces
that it eliminated ¥12.318 trillion ($120 Billion) notional in JPY/USD
cross currency swaps with 12 institutions participating. This is the
first ever triReduce cross currency compression cycle.
This is another example of our commitment to expanding the catalog of
trade types eligible for triReduce compression," said Peter Weibel, CEO
of triReduce. "As firms focus on reducing notional to save on capital
costs and reduce leverage in the new regulatory landscape, we are
working with the industry to introduce more opportunities for
TriOptima will launch a EUR/USD triReduce cycle next, with additional
cross currency pairs planned for 2014.
TriOptima is the award-winning provider of post trade risk management
services and infrastructure for OTC derivatives. Focused on reducing
costs, eliminating operational and credit risk, improving counterparty
exposure management, and reducing systemic risk, TriOptima offers a
range of services: triReduce to reduce swap inventory and counterparty
risk; triResolve to reconcile OTC derivative portfolios and manage
disputes; triBalance to manage cleared and bilateral counterparty risk
and triCalculate to measure and analyze counterparty risk.
TriOptima, an ICAP Group company, maintains offices in London, New York,
Singapore, Stockholm, and Tokyo.
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