TriOptima compression surpasses $750 trillion in eliminated notional principal


Post trade infrastructure provider TriOptima, part of ICAP plc (LON:IAP), announces today that market participants have eliminated more than $750 trillion in notional principal outstanding via its multilateral compression service for OTC derivatives triReduce.

Since the launch of the service in 2003, over 210 financial institutions have participated in this risk-reducing achievement which includes compression across a variety of products: cleared and uncleared interest rate products in 27 currencies, credit default swaps, commodity swaps, inflation swaps, cross currency swaps, and FX forwards.

At present, TriOptima delivers triReduce compression for cleared trades in collaboration with leading clearinghouses (CCPs) worldwide. It also offers triReduce to CLS members for FX forwards.

Peter Weibel, CEO of triReduce, says,

“The recent dramatic surge in multilateral compression is a direct result of the collaboration between TriOptima, market participants and clearinghouses around the globe, as well as CLS. The positive effect of compression is clearly reflected in the declining outstanding notional amounts reported by the BIS. We are planning to introduce triReduce compression cycles in more CCPs later this year and will continue the expansion of our catalogue of compression products.”

For the full announcement from ICAP, click here.

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TriOptima compression surpasses $750 trillion in eliminated notional principal

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