TriOptima Makes triReduce Services Available to CME Group Members
- TriOptima will be making its triReduce product available to CME Group Interest Rate Swap (IRS) clearing members for multilateral compression of the swap orders of house accounts.
ICAP has announced that its TriOptima unit, which provides post-trade risk services for OTC derivatives, is making its triReduce product available to CME Group Interest Rate Swap (IRS) Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term members. Using triReduce, CME Group clearing members will be able to submit trades for multilateral compression of the IRS orders of house accounts.
According to the arrangement, initially being offered during the first half of 2015 is compression through triReduce of US dollar-based dealer-cleared trades of CME Group IRS members in their proprietary accounts. IRS based in other currencies are expected to be added in the following months after the launch of the compression services.
On the news, representatives of the CME and TriOptima provided public comments. Sunil Cutinho, President of CME Clearing, stated, “We’re pleased to work with TriOptima so that our dealer bank members will have the opportunity to use triReduce compression as they focus on reducing line items and cleared gross notionals to improve Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term ratios under new regulatory standards. With this step, we are able to continue to deliver the most capital efficient clearing solutions available.”
Peter Weibel, CEO of triReduce, added, “We are delighted to be working with CME Group to deliver triReduce compression to its clearing members as we continue our efforts to enhance the industry’s post-trade infrastructure. As reported in the January 29th ISDA study, the industry’s efforts to reduce outstandings have contributed to a meaningful decline in the notional outstanding in interest rate derivatives, and triReduce has been a major factor in that achievement.”
ICAP has announced that its TriOptima unit, which provides post-trade risk services for OTC derivatives, is making its triReduce product available to CME Group Interest Rate Swap (IRS) Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term members. Using triReduce, CME Group clearing members will be able to submit trades for multilateral compression of the IRS orders of house accounts.
According to the arrangement, initially being offered during the first half of 2015 is compression through triReduce of US dollar-based dealer-cleared trades of CME Group IRS members in their proprietary accounts. IRS based in other currencies are expected to be added in the following months after the launch of the compression services.
On the news, representatives of the CME and TriOptima provided public comments. Sunil Cutinho, President of CME Clearing, stated, “We’re pleased to work with TriOptima so that our dealer bank members will have the opportunity to use triReduce compression as they focus on reducing line items and cleared gross notionals to improve Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term ratios under new regulatory standards. With this step, we are able to continue to deliver the most capital efficient clearing solutions available.”
Peter Weibel, CEO of triReduce, added, “We are delighted to be working with CME Group to deliver triReduce compression to its clearing members as we continue our efforts to enhance the industry’s post-trade infrastructure. As reported in the January 29th ISDA study, the industry’s efforts to reduce outstandings have contributed to a meaningful decline in the notional outstanding in interest rate derivatives, and triReduce has been a major factor in that achievement.”