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TriOptima and CME Clearing include first client cleared trades in triReduce Mexican peso compression cycle

First Published 19th April 2017

TriOptima and CME Clearing include first client cleared trades in triReduce Mexican peso compression cycle.

Peter Weibel, triReduce

Peter Weibel, triReduce

London, New York, Mexico City - TriOptima has announced that it has included client cleared trades in a triReduce Mexico Peso (MXN) compression cycle in CME Clearing for the first time.

CME Clearing and TriOptima have offered 15 compression cycles in five currencies since they started collaborating in 2016, compressing a total of $26.1 trillion in notional principal, of which $1.2 trillion is in MXN. There were 17 participants in this cycle.

Peter Weibel, CEO of triReduce, said: "The launch of compression for client cleared trades in CME Clearing enables triReduce to expand its participant base and liquidity pool, enhancing compression results for everyone. Using the service, buy side clients can achieve risk, capital and operational efficiencies and reduce the regulatory burden on their FCMs (Futures Commission Merchants). We anticipate that more customers who are accessing clearing through their FCM's will participate in the triReduce service in future cycles."

CME Clearing and TriOptima will add Brazilian Real and Canadian Dollar triReduce cycles in 2017.