Press release
February 4, 2008
TriOptima will terminate interest rate swaps in 19 currencies in 2008
TriOptima, the award-winning provider of post trade processing services for OTC derivatives, will expand its triReduce termination service for interest rate swaps into 19 currencies in 2008. In 2007, TriOptima offered triReduce termination cycles in a record- breaking 15 currencies including: AUD, CAD, CHF, EUR, GBP, HKD, JPY, MXN, NOK, NZD, PLN, SEK, SGD, USD, and ZAR.
With growing interest rate swap trading in many of the developing market currencies, TriOptima has decided to add termination cycles in CZK, HUF, INR and KRW to the 2008 schedule. This follows successful tear ups in 2007 in both Mexican peso (MXN) and Polish zloty (PLN), both of which were new currencies for TriOptima.
Ulf Andersson, business manager for triReduce, said “We are finding demand for termination cycles in these developing market currencies is strong since significant operational efficiencies as well as capital savings can be achieved. We will continue to go where our subscribers make markets.”
About TriOptima
TriOptima is the award-winning supplier of technology-leveraged post trade processing services including triReduce and triResolve.
triReduce, the multilateral early termination service for OTC derivative dealers, pioneers technology that eliminates risk and reduces operational and capital costs. Serving over 100 bank and non-bank subscribers worldwide including the major local and global dealers in derivatives, triReduce is a critical tool for maintaining post trade processing efficiency.
triResolve is a proactive portfolio reconciliation service that serves collateral management and operations in all types of firms with an OTC derivatives portfolio. Web-based, interactive, with advanced matching capabilities, the triResolve service reconciles the entire range of OTC derivatives transactions covered under a collateral agreement such as the ISDA CSA.
TriOptima maintains offices in Stockholm, London, New York, and Singapore. TriOptima is a privately-held company owned by its employees and directors with a significant minority interest held by ICAP plc.
For further information please contact:
Susan Hinko, Managing Director, Industry Relations
Tel: + 1 646 744 0410
susan.hinko@trioptima.com
Meredith Sledd Lindquist, Global Head of Marketing
Tel: +46 8545 25 664
meredith.sledd.lindquist@triopima.com