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      TriOptima Goes Live with The Australian Securities Exchange (ASX) For triReduce Compression Services

      Published: just now

      TriOptima Goes Live with The Australian Securities Exchange (ASX) For triReduce Compression Services

      July 28, 2021 - CME owned TriOptima, a leading infrastructure service that helps to lower costs and to mitigate risk in OTC derivatives markets, announced today that the Australian Securities Exchange (ASX) has gone live with the triReduce compression service.

      The service allows firms to reduce or eliminate their trades within the exchange's clearing house, including those trades with mismatched cash flow dates, thereby reducing the size of their cleared OTC derivatives portfolio. To manage capital pressures, local and global banks can now complete regular compression runs in the region and benefit from a reduction in capital, risk and operational costs.

      "We are delighted to support ASX in offering compression to their clearing members. This further expands the list of clearing houses that TriOptima partners with, and is testament to our truly global service," said Philip Junod, Senior Director, triReduce and triBalance business management. "Regardless of where in the world market participants choose to clear, they can be confident of compressing their OTC trades to better manage their exposures."

      "Compression services lower costs and drive operational efficiency for users of OTC derivatives," added** Allan McGregor Senior Manager, Rates at ASX**. "In partnership with TriOptima, ASX has invested in this critical service for our OTC clearing customers who are looking to reduce operational risk and lower capital costs in accordance with domestic and global capital requirements."

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