In the second half of 2015, through utilisation of triReduce, CME Group IRS clearing members will be able to compress their US dollar dealer-cleared trades. In months to come, more currencies will be added based on member interest for dealer-cleared IRS, as TriOptima introduces Multilateral Compression for CME Group Cleared Trades.
President of CME Clearing Sunil Cutinho, stated that they are pleased to work with TriOptima, so as to enable their dealer bank members have the opportunity to use triReduce compression as they will be focusing on reducing line items notional, thereby improving their leverage ratios under new regulatory standards.
Sunil Cutinho, President of CME Clearing, believes that this step will enable them continue to deliver the most capital efficient clearing solutions available.
Peter Weibel, CEO of triReduce, also share the same thought as Sunil Cutinho, stating that they are also delighted to be working with CME Group to deliver triReduce compression to its clearing members and he also strongly believes their efforts will enhance the industry`s post trade infrastructure.
At the moment, triReduce offers compression in cleared and uncleared interest rate swaps (including FRAs and Overnight Index Swaps), cross currency swaps, credit derivatives and commodity swaps, with an intention to introduce Inflation swap and FX forward cycles in 2015.