LONDON and NEW YORK, July 8, 2019 /PRNewswire/ -- TriOptima, a leading infrastructure service that lowers costs and mitigates risk in OTC derivatives markets, today announced that it has reduced notional outstanding at Eurex Clearing by 26% following a record compression run on June 26, 2019.
The latest run, which equates to $3.9 trillion worth of cleared euro interest rate swaps (IRS) and Forward Rate Agreements (FRAs), represents a 143% increase on the previous record of $1.6 trillion.
The record comes as market participants continue to utilise TriOptima's triReduce service to cut their gross notional exposure. By eliminating transactions through triReduce in a clearing house environment, firms go one step further to meeting regulatory demands of reducing systemic risk across the global financial markets.
"TriOptima is pleased to have helped market participants reduce their notional outstanding at Eurex Clearing in such a meaningful way. This degree of compression underlines the impact of our unparalleled multilateral network, bringing the most members together in a single venue to deliver significant operational and capital savings," said Michael Modlock, Global Head of Sales and Relationship Management, triReduce. "Working with Eurex Clearing since 2015, our unrivalled low-touch service continues to see greater efficiencies as membership grows and inventory increases."
"We are extremely pleased with this record triReduce compression cycle. It highlights the importance of reducing gross notional exposures for our clients as they continue to develop OTC liquidity at Eurex Clearing. This reinforces how vital compression services such as triReduce are to delivering regulatory and capital efficiencies to the market," said Danny Chart, Head of Business Development at Eurex Clearing.
TriOptima is a part of CME Group. For more information on TriOptima offerings, visit: https://www.trioptima.com/
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners. TriOptima AB is regulated by the Swedish Financial Supervisory Authority for the reception and transmission of orders in relation to one or more financial instruments. TriOptima AB is registered with the US National Futures Association as an introducing broker.
About Eurex Clearing
Eurex Clearing is one of the leading central counterparties globally — assuring the safety and integrity of markets while providing innovation in risk management, clearing technology and client asset protection. Eurex Clearing serves about 200 Clearing Members in 20 countries, managing a collateral pool of EUR 56 billion and clearing trades valued at EUR 23 trillion (double counted) every month.