TriOptima eliminates ¥79 trillion notional in latest JSCC Japanese Yen
02 July 2015
New York/London, 2 July 2015 – TriOptima announces today that 18 financial institutions, including 7 major Japanese banks, have reduced notional principal outstanding in Japanese Yen (¥) interest rate swaps (IRS) by ¥79.02 trillion ($641billion USD) in JSCC’s third triReduce compression cycle. The notional reduced has doubled since the last JSCC cycle in March 2015 due to the increased participation of Japanese banks.
Compression cycles have reduced JSCC ¥ IRS notional outstanding by ¥118 trillion since January 2015.
“As anticipated, the growing participation of Japanese banks has increased positively our compression results,” said Takehiro Hosomura, director of OTC derivatives clearing services at JSCC. “And we expect further increases as banks adopt compression as business as usual, and unlinking is introduced.”
“We continue to work with JSCC and with all participants to facilitate compression in the clearinghouse,” said Yutaka Imanishi. “We are pleased with the cumulative effect of these cycles and expect even greater results once trades in JSCC are unlinked. JSCC triReduce compression is a powerful tool for risk management as well as for operational cost reduction.
|Yutaka Imanishi ||CEO Asia Pacific, TriOptima ||+65 6372 8188 |
|Susan Hinko ||Head of Industry Relations. TriOptima ||+1 646 744 0410 |
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.
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.