11.01.2021

OSTTRA’s TriOptima Launches Trade Refactoring

OSTTRA’s TriOptima, a leading infrastructure provider that lowers costs and mitigates risk in OTC derivatives markets,  announced a new trade refactoring solution that enables financial institutions to transform their swap portfolio with the most efficient amount of notional.  The trade refactoring system is covered by U.S. Patent Number 10,803,456 and other pending U.S. and international patents and applications.

Previously, market participants would experience a buildup of historic trades lacking the necessary offsets to unlock compression. TriOptima’s trade refactoring solution unlocks the historic population of trades, which can lead to a lower steady state of gross notional. This new technique can deliver increases of well over 25% in gross notional compression for market participants.

The refactoring solution is available for all cleared currencies and comes at a time when market participants are preparing for benchmark cessation and the Globally Systemic Investment Banks (G-SIB’s) are looking to compress any extra notional ahead of year-end.

“With benchmark cessation looming, we continue to innovate to support market participants in maximising their notional compression and simultaneously achieving their cessation goals,” said Philip Junod, Senior Director, triReduce and triBalance Business Management. “Market participants can now significantly reduce their notional before those all-important year-end deadlines.”

Source: OSTTRA

Related articles

  1. SOFR average daily volume increased over 250% from a year ago.

  2. Basel Committee Consults on Interest-Rate Risk

    Trading conventions for USD leg of new cross-currency derivatives will switch on December 13.

  3. The contract offers the market a way to access and hedge a global price for carbon.

  4. Volatility Futures Broaden Appeal

    The exchange launched on March 29 this year.

  5. Markit to Launch Cash FX Affirmation Service

    The exchange has started trading seven new FX futures on Scandinavian currencies.