Press release
April 13, 2007
TriOptima plans new rates terminations in emerging market currencies
TriOptima, already offering regular termination cycles in 11 currencies globally, plans to expand its 2007 termination cycles into several emerging market currencies including the Czech koruny (CZK ), the Hungarian forint (HUF), the Korean won (KWN), the Mexican peso (MXN), and the Polish zlotych (PLN).
Transaction volumes are growing in the emerging markets as a result of recently-enacted netting legislation and the subsequent development of strong trading activity. Tearing up the unnecessary inventories of trades in these currencies will result in even greater operational gains and the release of credit capital under the BIS rules. In the Mexican peso market, for example, the 28-day payment cycle results in operational cost and risk exposure which could be eliminated through a termination cycle.
Currently TriOptima’s termination cycles include AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SEK, USD and ZAR.
About TriOptima
TriOptima is the award-winning supplier of technology-based post trade processing services. triReduce, its multilateral termination service for OTC derivative contracts, pioneers technology that eliminates risk and reduces operational and capital costs. TriOptima’s groundbreaking service, triResolve, transforms portfolio reconciliation into a proactive activity for collateral managers reducing margin call disputes, manpower requirements, operational costs, and errors in credit exposure calculation.
With over 100 bank and non-bank subscribers worldwide including the major local and global dealers in derivatives, TriOptima provides critical services to achieve post trade operating efficiency.
TriOptima maintains offices in Stockholm, London, New York, and Singapore.
TriOptima is a privately-held company owned by its employees and directors. Minority shareholders include Allen & Overy. ICAP plc holds a significant minority stake.
For further information please contact:
Susan Hinko, Managing Director, North America
Tel: + 1 646 744 0410
susan.hinko@trioptima.net
Per Sjoberg, Executive Vice President
Tel: +46 8 545 25 130
Per.sjoberg@trioptima.net
Hans Patyne, Global Head of Sales and Marketing
Tel: + 44 20 7000 5230
Hans.Patyne@trioptima.net
Andrew Reid, Fishburn Hedges
Tel: +44 20 7544 3021
Andrew.reid@ fishburn-hedges.co.uk