Polish zloty IRS compressed by 40%
11 March 2016 New York
Image: Shutterstock
TriOptima has seen 18 SwapClear members compress 40 percent of outstanding notional and 49 percent of outstanding trades in Polish zloty (PLN) interest rate swaps and forward rate agreements (FRA).
The local and international participants eliminated PLN 2.6 trillion ($654 billion) in the risk-constrained, multilateral triReduce cycle for unlinked transactions.
Cameron Goh, head of clearing solutions, SwapClear and listed rates at LCH.Clearnet, said: “This is the largest PLN triReduce compression cycle that SwapClear has run to date. Capital requirements for banks continue to be a major incentive for firms to compress their swaps books and drive down notional outstanding.”
“As a result, our members and their clients have a healthy appetite for the capital and operational efficiencies that can be achieved through compression and we expect demand for these services to continue to grow.”
Peter Weibel, CEO of triReduce, said: “This is a great example of how triReduce’s risk-constrained compression achieves high efficiency when trading books are concentrated. The triReduce process is trusted, scalable and efficient which contributes to the success of new and ongoing compression cycles.”
The local and international participants eliminated PLN 2.6 trillion ($654 billion) in the risk-constrained, multilateral triReduce cycle for unlinked transactions.
Cameron Goh, head of clearing solutions, SwapClear and listed rates at LCH.Clearnet, said: “This is the largest PLN triReduce compression cycle that SwapClear has run to date. Capital requirements for banks continue to be a major incentive for firms to compress their swaps books and drive down notional outstanding.”
“As a result, our members and their clients have a healthy appetite for the capital and operational efficiencies that can be achieved through compression and we expect demand for these services to continue to grow.”
Peter Weibel, CEO of triReduce, said: “This is a great example of how triReduce’s risk-constrained compression achieves high efficiency when trading books are concentrated. The triReduce process is trusted, scalable and efficient which contributes to the success of new and ongoing compression cycles.”
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