ASX partners with TriOptima to reduce trades in exchange’s clearing house

The Australian Securities Exchange (ASX) has gone live with TriOptima’s triReduce compression service, which allows firms to reduce or eliminate over-the-counter derivatives trades within the exchange's clearing house, including those with mismatched cash flow dates, reducing the size of their cleared OTC derivatives portfolio.

Both local and global banks can now complete regular compression runs in the region and benefit from a reduction in capital, risk, operational costs and capital pressures

TriOptima’s senior director, triReduce and triBalance business management, Philip Junod says: “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.”

ASX senior manager, rates, Allan McGregor says: “Compression services lower costs and drive operational efficiency for users of OTC derivatives. 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.”