TriOptima completes first cross currency swap compression in USD/Korean Won
Cross currency swaps are subject to both interest rate and foreign exchange rate fluctuations and are not currently cleared. They increase an institution’s credit and capital costs as well as its settlement risk.
TriOptima has run 13 successful triReduce cross currency swap compression cycles since April 2014 in USD/CAD, USD/CNH (Chinese yuan) USD/EUR, USD/GBP, USD/JPY, USD/MXN (Mexican peso), USD/RUB (Russian ruble) and USD/ZAR (South African rand) with 37 different participants joining one or more cycles. Over $1 trillion in notional principal has been eliminated in these cycles
Additional cross currency compression cycles are planned in 2015 in the currencies already offered and in new currencies including USD/AUD (Australian dollar), USD/CHF (Swiss franc) and USD/CNY (Chinese yuan). triReduce compression cycles can accommodate all transaction types whether they are float/float or fixed/float, or resetting and non-resetting basis swaps.
“Cross currency swap compression is now part of normal business operations for Asian institutions,” said Yutaka Imanishi, CEO of TriOptima Asia Pacific. “There is a strong awareness of the operational and capital efficiency benefits of compression and a need to reduce notional exposure on the balance sheet.”
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
Website: http://www.trioptima.com
Contact
TriOptima
Yutaka Imanishi
CEO TriOptima Asia Pacific
+65 6372 8188
yutaka.imanihsi@trioptima.com
Susan Hinko
Head of Industry Relations
+ 1 646 744 0410
susan.hinko@trioptima.com
This news is a press release provided by TriOptima.