LONDON and NEW
YORK, Jan.
14, 2019 /PRNewswire/ -- TriOptima, the leading multilateral
compression provider that lowers costs and mitigates risk in OTC
markets, today announced that it has set a new record for its
triReduce portfolio compression service. In 2018, TriOptima
compressed $250 trillion gross
notional value of trades at LCH SwapClear, an annual increase of
31%.
This new record was driven by intensive participation of both
dealers and their clients, increased trade submission to triReduce
cycles and a wider adoption of the Trade Revision methodology,
which improves compression efficiency by up to 50% by allowing a
wider range of trade economics to be changed.
"We are proud that another record compression year continues to
help the industry achieve important capital and operational cost
reductions," said 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.
triReduce delivers multilateral compression to a liquidity pool
of over 270 market participants in four asset classes: Rates, FX,
Credit and Commodities. Compression is available across 28
currencies and 6 CCPs, and in multiple products, such as inflation
swaps and cross currency swaps. As a network service, triReduce
maintains a low barrier to entry, minimizing the technology costs
and resource required to access the service.
TriOptima is a leading multilateral compression provider that
lowers costs and mitigates risk in OTC derivatives markets and is a
part of CME Group. As the world's leading and most diverse
derivatives marketplace, CME Group (www.cmegroup.com) enables
clients to trade futures, options, cash and OTC markets, optimize
portfolios, and analyze data – empowering market participants
worldwide to efficiently manage risk and capture opportunities. CME
Group exchanges offer the widest range of global benchmark products
across all major asset classes based on interest rates, equity
indexes, foreign exchange, energy, agricultural products and
metals. The company offers futures and options on futures
trading through the CME Globex® platform, fixed income trading via
BrokerTec and foreign exchange trading on the EBS platform.
In addition, it operates one of the world's leading central
counterparty clearing providers, CME Clearing. With a range
of pre- and post-trade products and services underpinning the
entire lifecycle of a trade, CME Group also offers optimization and
reconciliation services through TriOptima, and trade processing
services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are
trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB,
and Traiana, Inc., respectively. Dow Jones, Dow Jones
Industrial Average, S&P 500 and S&P are service and/or
trademarks of Dow Jones Trademark Holdings LLC, Standard &
Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as
the case may be, and have been licensed for use by Chicago
Mercantile Exchange Inc. All other trademarks are the
property of their respective owners.
CME-G
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content:http://www.prnewswire.com/news-releases/trioptima-sets-new-trireduce-record-250-trillion-gross-notional-value-compressed-at-lch-swapclear-during-2018-300777573.html
SOURCE CME Group