TriOptima completes cleared inflation swap with LCH SwapClear
19 July 2019 London
Image: Shutterstock
TriOptima has completed the first cleared inflation swap compression run at LCH SwapClear.
The compression run was completed on 19 July with Euro cleared inflation swaps being compressed through the triReduce service.
TriOptima has also gone live with sterling and US dollar cleared inflation swaps compression in LCH SwapClear.
Clients can now ‘co-mingle’ cleared inflation swaps with vanilla swaps by leveraging the new triReduce low touch compression service.
The new service minimises the number of clicks required to run a compression cycle and provides data validation checks.
As a result, clients can complete compression runs on a daily basis and benefit from a reduction in capital, risk and operational costs.
Michael Modlock, global head of sales and relationship management at triReduce, commented: “Increasing balance sheet pressures and growing resource constraints have seen banks increasingly turn to compression as an effective means of mitigating costs and risks. As a result, it’s important that compression services evolve to meet the needs of clients today.”
He added: “We’re pleased to compress cleared inflation swaps for the first time, delivering this via our new low touch compression approach which not only minimises the time spent by clients, but also provides superior data checks so they can compress in confidence.”
Cameron Goh, global head of product, rates at LCH, said: “Compression is a crucial tool in driving efficiency for the cleared market. The ability to compress inflation swaps is of particular significance for members and clients who are looking to boost operational and capital efficiency.”
The compression run was completed on 19 July with Euro cleared inflation swaps being compressed through the triReduce service.
TriOptima has also gone live with sterling and US dollar cleared inflation swaps compression in LCH SwapClear.
Clients can now ‘co-mingle’ cleared inflation swaps with vanilla swaps by leveraging the new triReduce low touch compression service.
The new service minimises the number of clicks required to run a compression cycle and provides data validation checks.
As a result, clients can complete compression runs on a daily basis and benefit from a reduction in capital, risk and operational costs.
Michael Modlock, global head of sales and relationship management at triReduce, commented: “Increasing balance sheet pressures and growing resource constraints have seen banks increasingly turn to compression as an effective means of mitigating costs and risks. As a result, it’s important that compression services evolve to meet the needs of clients today.”
He added: “We’re pleased to compress cleared inflation swaps for the first time, delivering this via our new low touch compression approach which not only minimises the time spent by clients, but also provides superior data checks so they can compress in confidence.”
Cameron Goh, global head of product, rates at LCH, said: “Compression is a crucial tool in driving efficiency for the cleared market. The ability to compress inflation swaps is of particular significance for members and clients who are looking to boost operational and capital efficiency.”
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