CLS and TriOptima launch FX forwards compression service
TriReduce FX reduces notional volumes and counterparty risk
Foreign exchange settlement utility CLS has partnered post-trade risk management services firm TriOptima to launch the triReduce FX compression service for forwards and swaps, and it has completed the first successful cycle.
TriOptima has operated compression services in other asset classes for more than a decade, but it turned to FX following the Basel III leverage ratio requirements, with the need to reduce the notional outstanding volume in FX and minimise counterparty credit risk.
While the
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