TriOptima completes first cross currency compression
TriOptima has eliminated 12.318 trillion yen ($120 billion) notional in JPY/USD cross currency swaps with 12 institutions participating.
This marks the first triReduce cross currency compression cycle.
TriOptima plans on launching a euro and US dollar triReduce cycle with cross currency pairs later in 2014.
Peter Weibel, CEO of triReduce said: “This is another example of our commitment to expanding the catalogue of trade types eligible for triReduce compression,”
“As firms focus on reducing notional to save on capital costs and reduce leverage in the new regulatory landscape, we are working with the industry to introduce more opportunities for multilateral compression.”
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