triReduce Polish Zloty Compression Cycle Eliminates 40% Of PLN Notional Outstanding In LCH.Clearnet’s SwapClear

TriOptima, an award-winning post trade infrastructure provider, announces today that 18 SwapClear members have compressed 40% of outstanding notional and 49% of outstanding trades in Polish zloty (PLN) interest rate swaps and forward rate agreements (FRA) in the latest triReduce compression cycle. 

The local and international participants eliminated 2.6 trillion PLN/$654 billion USD in the risk-constrained, multilateral triReduce cycle for unlinked transactions. 

Cameron Goh, Head of Clearing Solutions, SwapClear and Listed Rates, LCH.Clearnet, said: “This is the largest PLN triReduce compression cycle that SwapClear has run to date. Capital requirements for banks continue to be a major incentive for firms to compress their swaps books and drive down notional outstanding. As a result, our members and their clients have a healthy appetite for the capital and operational efficiencies that can be achieved through compression and we expect demand for these services to continue to grow.” 

Peter Weibel, CEO of triReduce, said: “This is a great example of how triReduce’s risk-constrained compression achieves high efficiency when trading books are concentrated. The triReduce process is trusted, scalable and efficient which contributes to the success of new and ongoing compression cycles.”