Counterparties using the triReduce CLS FX forward compression service eliminated $9.1 trillion of gross notional value from their FX forward portfolios in 2019. A new record for the service, this equates to an annual increase of 71%. In Q4 alone, the service compressed $4.9 trillion of gross notional value, 153% above the previous quarterly high achieved in Q3 2018. Read more
Low Touch Compression is the next evolution in the compression process delivering improved usability, user transparency and full automation together with API technology. Customers now have a highly efficient compression process that can be run daily with all instruments supported by the CCP combined in a single run, enabling further process consolidation and allowing banks to optimize the resource levels required to support the processes.
Basis swaps can now be combined with IRS, meaning fewer cycles and more efficiency.
First vendor to compress cleared non-deliverable swaps.
In order to manage capital pressures, clients can 'co-mingle' cleared inflation swaps with vanilla swaps by leveraging the triReduce low touch compression service. We are live with GBP and USD cleared inflation swaps compression in LCH SwapClear.
Moving legacy LIBOR swap risk to new alternative benchmarks
In 2017 Andrew Bailey (UK FCA) announced that banks will no longer be required to contribute to LIBOR fixings beyond the end of 2021, although LIBOR and alternative rates are expected to coexist for some time. TriOptima’s new benchmark functionality will assist the swaps market in making the orderly conversion to the new reference rates.
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