TriOptima, provider of OTC derivative post trade services, announces that it eliminated ¥12.318 trillion ($120 Billion) notional in JPY/USD cross currency swaps with 12 institutions participating. This is the first ever triReduce cross currency compression cycle.
“This is another example of our commitment to expanding the catalog of trade types eligible for triReduce compression,” said Peter Weibel, CEO of triReduce. “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.”
TriOptima will launch a EUR/USD triReduce cycle next, with additional cross currency pairs planned for 2014
