Awards
TriOptima wins awards
Risk Magazine 20th Anniversary Industry Trade Processing Platform Award TriOptima's termination service, triReduce, was recognized again for its major contributions to minimizing operational, legal and counterparty credit risk by offering OTC derivative dealers regular opportunities to eliminate trades from their portfolios. From triReduce's launch in 2003 through May 2007, over 100 market participants terminated 192,000 interest rate swap contracts and 263,000 CDS single name and index transactions. A staggering 8.7 million fixings and 12.7 million payments for IRS swaps were eliminated, as well as 9.6 million CDS payments.
Financial News 21 Technology
Companies for the 21st Century Financial News named TriOptima in
its second annual list of 21 technology companies shaping the future of
finance for the 21st century . Citing both its “flagship” multilateral
terminations product, triReduce, and its recently-launched portfolio
reconciliation service, triResolve, Financial News included TriOptima in
a list of 21 “companies with innovative technology, a clear vision of
how they might improve the markets in which they operate, and … some
track record of success…” They recognized TriOptima as an emerging
force in supplying systems to simplify the risky business of OTC
derivatives confirmations and settlement.
Risk Magazine
2006 Technology Platform of the Year Labeled a "godsend" for
the credit derivatives market, TriOptima was cited by Risk for its
ability to help credit derivative dealers "clear redundant trades off
their books and reduce the size of their portfolios" through the
triReduce termination service which was originally deployed for interest
rate and energy swaps. Risk also praised TriOptima's "willingness to
help the industry cope with recent major credit events" by introducing
special termination cycles, extending its matching functionality, and
calculating post default cash settlement payments.
Asia Risk 2005 Technology Innovation of the Year In announcing TriOptima's award, Asia Risk noted TriOptima's growing success terminating Hong Kong dollar swaps through triReduce, as well as potential for future success in other Asian markets. "For TriOptima's innovative idea, its epic algorithm and the efficiencies it will help bring to Asian markets, the Swedish company is a clear winner in the technology space for 2005."
Energy Risk 2005 Innovation of the Year "triReduce, the multilateral swap cancellation service, has already make a splash with energy traders since its launch into the energy markets..." announced Energy Risk in its award profile. The first crude oil termination cycle cancelled 1,888 oil swaps, and energy traders are looking forward to future cycles not only in oil but power and gas. Describing TriOptima, Energy Risk commented "...its future looks very bright."