TriOptima Successfully Compress Swedish Krona Rate Swaps in Nasdaq

The service eliminated 40 percent of Nasdaq's outstanding swap inventory.


Nasdaq and TriOptima, an over-the-counter (OTC) derivatives post-trade infrastructure provider, completed the first successful compression for Swedish krona interest-rate swaps.

TriOptima, through its multilateral portfolio compression service triReduce, was able to eliminate 40 percent of Nasdaq members' cleared outstanding Swedish Krona swap inventory.

The infrastructure streamlines portfolios, reduces systemic risk, and helps to adhere to certain Basel III requirements, said Peter Weibel, triReduce chief executive officer, in a statement. 

"With the new capital requirements under Basel III, banks and clearing brokers need to look for additional ways to reduce exposures as well as notional outstanding on their balance sheets," said Johan Ruden, senior vice president and head of Nordic fixed income at Nasdaq, in a statement.

The company said triReduce has helped OTC derivative market participants drop $768 trillion in notional principal through March 2016.

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