TriOptima Continues Strong Compression Activities in 1H 2011

triReduce service eliminates interest rate swaps with a notional value of $22.1 trillion and CDS with a notional value of $3.2 trillion

TriOptima announced that in the first six months of 2011 its triReduce early termination service had eliminated interest rate swaps with a notional value of $22.1 trillion, including cleared swaps in LCH.Clearnet Swapclear. Credit default swaps with a notional value of $3.2 trillion were also compressed during this time period. 

“We continue to support our clients in their drive to compress transactions in order to enhance counterparty credit risk and operational risk management as well as minimize capital charges,” said Peter Weibel, ceo of triReduce. “Given the move towards clearing, CDS compression remains relatively strong; and interest rate swap terminations have accelerated again. Working with LCH.Clearnet SwapClear provides good opportunities for shedding transactions and reducing notional principal outstandings.”

Since the introduction of its innovative triReduce service, TriOptima has terminated $130 trillion in IRS notional outstandings and $71.4 trillion in CDS notional outstandings. Full compression statistics are available on TriOptima’s website at: http://www.trioptima.com/resource-center/statistics/triReduce.html

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