The service allows banks to reduce their exposure and the size of their OTC derivatives portfolios by eliminating trades with mismatched cash flow dates.
First, triReduce enhanced compression on Japanese yen cycle has been conducted by TriOptima.
The benchmark compression cycle via the triReduce service took place on 22 October at LCH SwapClear.
BrokerTec and TriOptima collaboration aims to solve operational burden around manual processes for repo trading.
TriOptima’s triResolve Margin collateral management service can connect clients to the SWIFT custody network for cash transfers and securities settlement.
The record compression activity is up 71% from last year, with triReduce CLS FX compressing $4.9 trillion in the fourth quarter alone.
Banks are increasingly turning to compression to mitigate costs and risks, TriOptima said.
TriOptima’s former CEO and Goldman Sachs veteran Stuart Connolly has been named chief executive at CloudMargin.
triCalculate IM analytics will support firms that are in-scope for phase four and five of the initial margin requirements.
LCH SwapAgent has said that €4.5 billion in notional of trades were compressed via TriOptima’s triReduce service.