TriOptima Halved SGD Notional Outstanding at LCH
TriOptima, a leading infrastructure service that lowers costs and mitigates risk in OTC derivatives markets, announced that it reduced the total Singapore dollars notional outstanding at LCH by 50% by compressing SGD 1.7T in interest rate derivatives H1 2021.
This contributes to a record 12 months with TriOptima successfully terminating overÂ SGD 3.5 trillionÂ worth of notional across 39 participants, including direct clearing members, clients, and clearing brokers.
The latestÂ SingaporeÂ dollar compression run onÂ Jun 23, 2021Â also saw firms adopt TriOptima’s benchmark conversion service for the first time. The strong results and wide participation underscore the central role of TriOptima’ s compression service in helping the industry reduce legacy benchmark exposures, as part of the global shift to the new reference indices.
“TriOptima continues to help market participants decrease their exposure to legacy benchmarks,” saidÂ Philip Junod, Senior Director, triReduce and triBalance business management. “The results are a testament to our continued innovation, coupled with our global network to provide solutions to the challenges faced by the OTC derivatives industry.”
TriOptima is a part of CME Group.
FIA PTG said a viable agency clearing model can increase market resiliency, liquidity and transparency.
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This comes ahead of LIBORâ€™s cessation on 31 December 2021.
A briefing paper supports alignment of the clearing obligation under the EMIR and MiFID II.
Total volume was up 25.6% from a year ago.