LONDON and NEW
YORK, Oct.
29, 2020 /PRNewswire/ -- TriOptima, a leading
infrastructure service that helps to lower costs and mitigate risk
in OTC derivatives markets, announced the completion of the first
triReduce enhanced compression cycle to include SONIA risk
replacement trades. The cycle took place on October 22, 2020 at LCH SwapClear.
The triReduce benchmark compression service allows swap market
participants to reduce their gross and net exposure to legacy
benchmarks while increasing their adoption of alternate benchmarks
through risk replacement trades.
"This is the first step of an iterative process for our swap
market clients as they convert their swaps exposure from legacy
benchmark rates," says Philip Junod,
Senior Director, triReduce and triBalance Business Management. "The
triReduce benchmark conversion service has the capacity to run
conversion alongside compression at scale, helping participants
proactively reduce their exposure at the same time as increasing
their adoption of the alternative reference rates in currencies
impacted by benchmark reform."
TriOptima provides frequent compression cycles in all the major
Central Counterparty clearing houses in all cleared currencies.
After this first risk replacement compression cycle in sterling,
triReduce will offer enhanced compression/benchmark conversion
cycles in other currencies as the market need arises.
TriOptima is a part of CME Group. For more information on
TriOptima offerings, visit here.
About CME Group
As the world's leading and most
diverse derivatives marketplace, CME Group (www.cmegroup.com)
enables clients to trade futures, options, cash and OTC markets,
optimize portfolios, and analyze data – empowering market
participants worldwide to efficiently manage risk and capture
opportunities. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes based
on interest rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing. With a range of pre- and post-trade products and
services underpinning the entire lifecycle of a trade, CME Group
also offers optimization and reconciliation services through
TriOptima, and trade processing services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are
trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB,
and Traiana, Inc., respectively. Dow Jones, Dow Jones
Industrial Average, S&P 500 and S&P are service and/or
trademarks of Dow Jones Trademark Holdings LLC, Standard &
Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as
the case may be, and have been licensed for use by Chicago
Mercantile Exchange Inc. All other trademarks are the
property of their respective owners.
CME-G
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SOURCE CME Group