Wednesday January 15 2014
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
TriOptima has announced that it has resumed triReduce compression cycles within LCH.Clearnet’s SwapClear service, eliminating $16 trillion in notional principal with one EUR and one USD interest rate swap cycle in the last month of 2013. This brings the cumulative total of notional compressed by TriOptima and SwapClear to $204 trillion.
With the resumption of triReduce multilateral compression in December, 33 SwapClear clearing members reduced their gross notional outstandings by almost $43 trillion in 2013. Lower gross notional exposure contributes to bringing an institution’s leverage ratio in line with regulatory expectations, an important goal for banks. Trade compression cycles also help ensure post-trade efficiency; and running regular cycles in a range of currencies reduces both the gross notional and the number of outstanding OTC derivative transactions in the Clearing House.
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