TriOptima sets new triReduce portfolio compression service record


TriOptima sets new triReduce portfolio compression service record

TriOptima, a CME Group (LON:NXG) business which lowers costs and mitigates risk in OTC derivatives markets, has announced that it has set a new record for its triReduce portfolio compression service.

LeapRate reminds that triReduce compression service hit quadrillion dollar milestone in notional principal eliminated back in June 2017. TriOptima, on the other hand, compressed $250 trillion gross notional value of trades last year at LCH SwapClear, up 31% YoY.

Peter Weibel triReduce
Peter Weibel, triReduce

We are proud that another record compression year continues to help the industry achieve important capital and operational cost reductions,” commented Peter Weibel, Co-CEO TriOptima. “We look forward to working with our partners and clients in 2019 to achieve further efficiencies around benchmark conversion and risk transformation across over-the-counter and exchange-traded derivatives.

2018 saw many records broken in OTC clearing, including those for newly cleared activity and for subsequent compression. We look forward to continuing to work with our buy and sell side clients, and ACSP partner TriOptima, to compress their cleared OTC risk in SwapClear and thereby realise ever-greater efficiencies,” said Michael Davie, Global Head of Rates, LCH.

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TriOptima sets new triReduce portfolio compression service record

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