The swap terminator

Multilateral swap cancellations look set to become commonplace in the energy sector, thanks to a service from TriOptima, which has just terminated its first round of oil swaps for six firms. Joe Marsh reports

Sweden is known for its innovative and functional design. Appropriate, then, that Sweden is the home of an innovative service for tidying up portfolios of over-the-counter (OTC) swap trades. Companies have been terminating bilateral swaps for some time. But TriReduce, developed by Stockholm-based TriOptima, is a service for netting out multilateral swaps – that is, eliminating unnecessary mutual trades that have cancelled each other out by reaching the same buy and sell price. And now the

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