TriOptima has erased 35% of the cleared MXN notional principal outstanding in CME in its first compression cycle.
TriOptima, a post trade infrastructure provider, has announced the compression cycle for cleared Mexican Peso Swaps at CME Group, having eliminated roughly $664 billion (12.5 trillion MXN) notional outstanding, per a TriOptima statement.
The announcement is important namely as it constitutes TriOptima’s first completion of a triReduce multilateral compression cycle for cleared Mexican Peso interest rate swaps IRS). The feat was accomplished by a total of eleven CME Group IRS Clearing members, which essentially encompassed upwards of 35% of the cleared MXN notional principal outstanding in CME via the cycle. The compression also marks the first such clearing round of any Latin American (LATAM) currency.
Ongoing Cycles
Since 2007, TriOptima has offered compressions for uncleared MXN trades, having already undergone a total of 20 MXN cycles to date, including the completion of the aforementioned cycle from CME Group IRS clearing members. TriOptima has also made inroads with uncleared Brazilian Real (BRL) and Colombian Peso (CLP) trades.
According to Sunil Cutinho, President of CME Clearing, in a recent statement on the compression cycle, “Mexican Peso swap clearing at CME Group is an exciting innovation we’ve delivered for our customers, and we’re pleased to work with TriOptima to deliver even greater capital efficiencies to the marketplace.”
“With bilateral swaps facing higher capital costs and the implementation of uncleared margin rules starting September 1, the combination of voluntary clearing and multilateral compression provides significant value to our clients,” he added.
“TriOptima continues to work closely with the CME Clearing to expand the range of compression services offered to their IRS clearing members and others. Eliminating trades is an important tool for improving capital efficiencies and operational processes,” explained Peter Weibel, Chief Executive Officer (CEO) of triReduce. “
TriOptima, a post trade infrastructure provider, has announced the compression cycle for cleared Mexican Peso Swaps at CME Group, having eliminated roughly $664 billion (12.5 trillion MXN) notional outstanding, per a TriOptima statement.
The announcement is important namely as it constitutes TriOptima’s first completion of a triReduce multilateral compression cycle for cleared Mexican Peso interest rate swaps IRS). The feat was accomplished by a total of eleven CME Group IRS Clearing members, which essentially encompassed upwards of 35% of the cleared MXN notional principal outstanding in CME via the cycle. The compression also marks the first such clearing round of any Latin American (LATAM) currency.
Ongoing Cycles
Since 2007, TriOptima has offered compressions for uncleared MXN trades, having already undergone a total of 20 MXN cycles to date, including the completion of the aforementioned cycle from CME Group IRS clearing members. TriOptima has also made inroads with uncleared Brazilian Real (BRL) and Colombian Peso (CLP) trades.
According to Sunil Cutinho, President of CME Clearing, in a recent statement on the compression cycle, “Mexican Peso swap clearing at CME Group is an exciting innovation we’ve delivered for our customers, and we’re pleased to work with TriOptima to deliver even greater capital efficiencies to the marketplace.”
“With bilateral swaps facing higher capital costs and the implementation of uncleared margin rules starting September 1, the combination of voluntary clearing and multilateral compression provides significant value to our clients,” he added.
“TriOptima continues to work closely with the CME Clearing to expand the range of compression services offered to their IRS clearing members and others. Eliminating trades is an important tool for improving capital efficiencies and operational processes,” explained Peter Weibel, Chief Executive Officer (CEO) of triReduce. “
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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