TriOptima cites Goldman Sachs and JP Morgan as happy users, as the system provider announces a new service to take risk and cost out of credit derivatives trading when deals are cleared across several CCPs.
“This new service, which has already allowed 12 participants to eliminate more than $475bn of gross notional value from cleared Index Credit Default Swaps (CDS), enables investment banks such as Goldman Sachs and J.P. Morgan to simultaneously optimise multiple risk measures including notional, initial margin (IM) and capital exposures on a multilateral basis,” says TriOptima in a press release.
“The addition of credit to TriOptima’s multilateral network uniquely positions the service to optimise across all derivative asset classes, FX, rates, commodities, equities and credit derivatives.”
TriOptima is a part of Osttra, which in turn is owned equally by CME Group and IHS Markit.