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TMCNet:  TriOptima Completes First Cross Currency triReduce Compression Cycle Eliminating ¥12.318 Trillion Notional Principal in JPY/USD Swaps

[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 multilateral compression."


TriOptima will launch a EUR/USD triReduce cycle next, with additional cross currency pairs planned for 2014.

About TriOptima

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.

http://www.trioptima.com


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