NEX : Optimisation’s triReduce compression service surpasses $1 quadrillion in notional principal eliminated by market participants

28 June 2017

London, New York - NEX Optimisation, which helps clients reduce complexity and optimise resources across the transaction lifecycle, announces today that participants in its triReduce compression service have eliminated over $1 quadrillion (1,000 trillion) in OTC derivative notional principal since its introduction in 2003.

triReduce is the premier multilateral risk-constrained compression service that offers compression for cleared and non-cleared interest rate swaps in 28 currencies, cross currency swaps, inflation swaps, credit default swaps, FX forward, and commodity swaps. Eliminating unnecessary swap inventory contributes to enhanced credit risk and capital management, reduces operational costs and risk, improves leverage ratios, and reduces systemic risk.

Peter Weibel, CEO of triReduce, said: 'Hitting the $1 quadrillion mark is a significant achievement for the market. Our clients, both dealers and the buy side, are focused on eliminating as much notional principal as possible to meet regulatory goals and to manage their own balance sheets. We are proud to have worked together with our clients and other infrastructure providers where possible to achieve this goal.'

triReduce is continually expanding its catalogue to include new products and market segments, including dealer and customer cleared swaps in central clearing counterparties around the globe.

NEX Optimisation Leading the transformation of market structure, NEX Optimisation offers a portfolio of cloud-hosted services across the transaction lifecycle. Ranging from pre-execution credit checking to multilateral portfolio compression, our purpose is to simplify our clients' workflow and help them optimise their resources. We are an integrated team of financial markets and pioneering financial technology specialists who operate in all asset classes, geographies and business sectors across the financial markets.

We are dedicated to mitigating risk, increasing efficiency, reducing costs and streamlining increasingly complex processes for our clients. We offer the opportunity to optimise both regulatory and financial resources. Find out more here.

NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world's capital markets. NEX is headquartered in London with offices worldwide. NEX. Empowering markets. For more information, go to www.nex.com

TriOptima A NEX Group business, TriOptima operates within NEX Optimisation which helps clients simplify complexity and optimise resources. For OTC derivatives, our services focus on lowering costs, eliminating operational and credit risk, improving counterparty exposure management and reducing systemic risk. triReduce reduces swap inventory and counterparty risk; triResolve reconciles OTC derivative portfolios, manages disputes, validates repository data, and automates margin management; triBalance manages cleared and bilateral counterparty risk while triCalculate measures and analyses counterparty risk.

For more information, go to www.trioptima.com