Find
May 10, 2016

Eurex Clearing

First Eurex OTC IRS compression cycle on triReduce® completed

With EurexOTC Clear Release 5.0, Eurex Clearing had introduced technical and functional changes to support the multilateral portfolio compression service triReduce® offered by TriOptima®. In April the first compression cycle for Euro Interest Rate Swaps has been completed.

Portfolio compression aims to reduce the size of an existing OTC IRS portfolio with respect to the number of trades and notional through (partial) termination of bilaterally agreed trades after novation of Eurex Clearing.

Danny Chart, Head of Sales Initiatives at Eurex Group, said in a statement: "We will continue to develop netting and compression services so that our members and their clients will be able to realize additional efficiencies when clearing more of their derivatives through Eurex Clearing, mitigating the impact of capital and balance sheet pressures."