TriReduce hits $1 quadrillion in swaps compressions
Demand has been high as banks seek to lower exposures
Nex Optimisation announced on June 28 that participants in its triReduce compression service have eliminated more than $1 quadrillion, or $1,000 trillion, in over-the-counter derivatives notional principal since its introduction in 2003.
The Nex Group-owned, multilateral, risk-constrained service offers compression for cleared and non-cleared interest rate swaps in 28 currencies, cross-currency swaps, inflation swaps, credit-default swaps, FX forwards and commodity swaps. Eliminating unnecessary
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