TriOptima wins Risk Magazine’s OTC Infrastructure Service of the Year Award
13 January 2015
New York/London, 13 January 2015 – TriOptima, leading provider of OTC derivatives post trade risk services, announces today that its triReduce compression service has received the Risk Magazine OTC Infrastructure Service of the Year Award. The award will be presented at the Risk Awards dinner in London on the evening of 19 January, 2015.
While TriOptima has offered its triReduce compression service since 2003, compression gained in importance with new regulatory requirements and leverage ratio guidelines. Risk cited TriOptima’s introduction of unlinked compression for cleared trades as a major contribution, as well as the continuing expansion of the triReduce compression catalogue, most recently cross currency swaps.
Peter Weibel, CEO of triReduce, said: “We are proud to receive this award which recognises the work we’ve done with market participants and other service providers to eliminate risk in the global financial system. Last year we passed the $500 trillion mark of notional principal eliminated, and we look forward to growing this achievement with regular compression cycles in the clearinghouses and for uncleared trades; and by adding inflation swaps and FX forwards to the triReduce catalogue.”
Currently triReduce offers compression in cleared and uncleared interest rate swaps (including FRAs and Overnight Index Swaps), cross currency swaps, credit derivatives and commodity swaps. Inflation swap and FX forward compression cycles will be introduced in 2015.
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.