TriOptima completes largest triReduce energy compression cycle eliminating €8.4 billion in notional outstanding
08 May 2014
New York/London, May8, 2014 - TriOptima, provider of OTC derivative post trade services, announces that it has completed the largest triReduce energy portfoliocompression cycle to date, eliminating 5000 transactions with a notionaloutstanding value of €8.4 billion. *
Spurred by recently-implemented EMIR regulations around clearingthresholds as well as the implications of the new leverage ratio and Basel IIIcapital requirements, market participants have been eager to eliminate as muchgross notional exposure as possible in their OTC derivative portfolios.
With10 participants, including energy firms and financial institutions, the terminatedtrades covered a broad spectrum of energy swaps:
- Power (physical forwards): Amprion (Germany), RTE (France), TenneT (Netherlands), NGrid (UK), TERNA (Italy), CEPS (Czech), SEPS (Slovakia), PSEO (Poland), SwissGrid (Switzerland), and MAVIR (Hungary)
- Power (financial swaps): OMEL (Spain), PUN (Italy)
- Natural Gas (physical forwards): NBP (UK), NCG (Germany), Gaspool (Germany), PEG (France), TTF (Netherlands), CEGH (Austria), and PSV (Italy)
- Coal (financial swaps): API#2, API#3, API#4
“Interest in our energy compression activities has grown steadilyover the past year as firms adjust to a new marketplace and regulations.” saidMattias Palm, TriOptima’s business manager for commodities. “We are seeingstrong support continue among commodities market participants for both ourtriReduce compression and triResolve portfolio reconciliation services as firmsimplement new risk management tools.”
*All transaction data is double counted.
For further information, please contact:
Susan Hinko, Head ofIndustry Relations
Tel:+ 1 646 744 0410
Candice Adam, Argentus PR
Tel:+ 44 207 397-2915
TriOptima is the award-winning provider ofpost 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 swapinventory and counterparty risk; triResolve to reconcile OTCderivative portfolios and manage disputes; triBalance to manage cleared andbilateral counterparty risk and triCalculate to measure and analyzecounterparty risk.
TriOptima,an ICAP Group company, maintains offices in London, New York, Singapore,Stockholm, and Tokyo.