TriOptima and CLS win FX Week Best Post-Trade Services Provider award

The post-trade infrastructure provider TriOptima has announced that it and financial services company CLS have won the FX Week Best Post-Trade Services Provider award.

The publication pronounced that as regulatory programs started, costs became an important factor for decisions and market structure development trends, and as a result of these changes, the CLS-TriOptima partnership launched the triReduce CLS Forward FX Compression service in October 2015. The service helps to reduce operational risks, costs, and counterparty credit risk while boosting capital efficiency. Less than a year old, the service has cut more than $112 billion in notional exposure for major dealers, with the number of participating banks increasing from six to 14 and eight more banks testing.



Peter Weibel, chief executive of TriOptima’s multilateral compression service, triReduce, said:

TriOptima has a huge amount of experience in compression, as we have been in the business since 2003. Our strong infrastructure and robust legal framework are key to the success of the service.”

Alan Marquard, chief strategy and development officer and general counsel at CLS Group, added:


One of the things about moving into a new asset class like FX is the compression process is reasonably mature in rates and CDS, but banks do not have one synthesised platform and process for dealing with different asset classes. So I think, for TriOptima, when the service first started, a level of education about how compression works was needed for the FX divisions of the banks in particular.”

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