According to TriOptima, market participants have eliminated $500 trillion in notional principal outstanding since it introduced triReduce, its multilateral compression service, in 2003.
The figure includes cleared and uncleared trades across a spectrum of products including cleared interest rate swaps and uncleared interest rate swaps in 27 currencies, credit default index, single name swaps and commodity swaps.
Peter Wiebel, CEO of triReduce, said: “Working together with market participants and clearinghouses globally, TriOptima is proud to mark this important milestone.”
“triReduce achieves maximum unwind efficiency with a risk-constrained compression approach. Using participants’ individual risk tolerance leads to increased compression opportunities.”
“This will also be available to clearing members for cleared, unlinked trade compression cycles further enabling participants to optimise their leverage ratios.”
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