TOKYO--(BUSINESS WIRE)--TriOptima announces that JSCC members terminated ¥72.5 trillion in the first unlinked compression cycle for JPY interest rate swaps (IRS) in JSCC. This is an increase of 44.4% over the notional terminated in September’s compression cycle.Since January 2015, triReduce compression cycles have reduced JSCC ¥ IRS notional outstanding by ¥316.5 trillion.
“As we anticipated, the unlinking of trades in JSCC resulted in an increase in notional terminated. The unlinking also resulted in the greatest number of trades terminated since we started,” said TakehiroHosomura, Director of OTC Derivatives Clearing Service at JSCC. “Unlinking combined with the growing participation of our clearinghouse members will continue to generate further increases as reflected in this year’s results.”
“We continue to work with JSCC and with all participants to facilitate compression in the clearinghouse,” said Yutaka Imanishi. “The JSCC members are eager to continue compression, increasing both the number of cycle participants and the number of trades submitted.”
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, validate repository data, and deliver an automated margin management solution; 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.