TriOptima eliminates 404 Trillion Japanese Yen (JPY) Notional Cleared Unlinked JPY Interest Rate Swaps in LCH.Clearnet SwapClear

NEW YORK & LONDON--()--TriOptima announces today that 18 financial institutions reduced notional principal outstanding by 404 trillion JPY ($3.36 trillion USD) in the first triReduce compression cycle for unlinked, cleared JPY interest rate swaps in LCH.Clearnet’s SwapClear. This represents a 300% increase in notional principal eliminated, compared to previous JPY cycles in LCH.Clearnet SwapClear.

Where clearing houses maintain their trades as “unlinked trades”, having unlinked them from the original counterparty, a larger pool of trades becomes available for compression since dependence on the participation of other clearing members is reduced.

“Interest in compression has significantly increased in Asia and we are working together with the industry to further improve compression efficiency.” said Yutaka Imanishi, CEO of Asia Pacific. “We believe there is strong potential for eliminating line items and notional principal.”

About TriOptima

TriOptima is the award-winning provider of post trade risk management services and infrastructure for OTC derivatives. Focused on reducing costs, eliminating operational and credit risk, improving counterparty exposure management, and reducing systemic risk, TriOptima offers a range of services: triReduce to reduce swap inventory and counterparty risk; triResolve to reconcile OTC derivative portfolios, manage disputes and validate repository data; triBalance to manage cleared and bilateral counterparty risk and triCalculate to measure and analyze counterparty risk.

TriOptima, an ICAP Group company, maintains offices in London, New York, Singapore, Stockholm, and Tokyo.

http://www.trioptima.com

Contacts

TriOptima
Yutaka Imanishi
CEO Asia Pacific
Tel: + 65 6372 8188
yutaka.imanishi@trioptima.com
or
Susan Hinko
Head of Industry Relations.
Tel: + 1 646 744 0410
susan.hinko@trioptima.com

Release Summary

TriOptima announces that 18 financial institutions reduced notional principal outstanding by 404 trillion JPY ($3.36 trillion USD) in the first triReduce compression cycle for unlinked, cleared JPY.

Contacts

TriOptima
Yutaka Imanishi
CEO Asia Pacific
Tel: + 65 6372 8188
yutaka.imanishi@trioptima.com
or
Susan Hinko
Head of Industry Relations.
Tel: + 1 646 744 0410
susan.hinko@trioptima.com