CHICAGO, Sept. 3, 2015 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, announced
today the completion of the first multilateral compression cycle in
collaboration with TriOptima's triReduce compression service.
Nine CME Group IRS clearing members participated in the cycle,
which compressed $2.2 trillion in
gross notional, resulting in a reduction of 44,933 line items and
an additional 6,900 line items partially terminated.
Multilateral compression further enhances CME Group's compression
offering, including Compression via Coupon Blending, which has
already reduced total notional by more than $11 trillion and total line items by more than
180,000.
"With the ongoing implementation of Basel III, financial
institutions are highly focused on improving their leverage ratios
by gaining the greatest efficiencies possible," said Sunil Cutinho, President of CME Clearing.
"CME Group is proud to deliver the most capital efficient solution
to market participants, and our multilateral compression offering
further solidifies our leadership position along with Compression
via Coupon Blending and Portfolio Margining of Swaps and
Futures."
"Our collaboration with CME Group enables its clearing members
to access an important tool for reducing risk and complying with
the new capital rules," said Peter
Weibel, CEO of TriOptima. "These significant results
are also another example of the efficiency of multilateral
compression in an unlinked trade environment."
The elimination of these trades streamlines system processing
and reduces operational and administrative burdens in the event of
a default.
About CME Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity
indexes, foreign exchange, energy, agricultural
commodities, metals, weather and real estate. CME Group brings
buyers and sellers together through its CME Globe® electronic
trading platform, its trading facilities in New
York and Chicago, and through
its London-based CME Europe derivatives exchange.
CME Group also operates one of the world's leading central
counterparty clearing providers through CME Clearing and CME
Clearing Europe, which offer clearing and settlement services
across asset classes for exchange-traded contracts and
over-the-counter derivatives transactions. These products and
services ensure that businesses everywhere can substantially
mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globe and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board
of Trade are trademarks of the Board of Trade of the City of
Chicago, Inc. NYMEX, New
York Mercantile Exchange and ClearPort are registered trademarks of
New York Mercantile Exchange, Inc. COMEX is a trademark of
Commodity Exchange, Inc. All other trademarks are the
property of their respective owners. Further information about CME
Group (NASDAQ: CME) and its products can be found at
www.cmegroup.com.
About TriOptima
TriOptima is the award-winning provider of post trade risk
management services and infrastructure for OTC derivatives. Focused
on reducing costs, eliminating operational and credit risk,
improving counterparty exposure management, and reducing systemic
risk, TriOptima offers a range of services: triReduce to reduce
swap inventory and counterparty risk; triResolve to reconcile OTC
derivative portfolios, manage disputes, validate repository data,
and deliver an integrated margin management solution; triBalance to
manage cleared and bilateral counterparty risk; and triCalculate to
measure and analyze counterparty risk.
TriOptima, an ICAP Group company, maintains offices in
London, New York, Singapore, Stockholm, and Tokyo.
www.trioptima.com
CME-G
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SOURCE CME Group