Financial technology firm TriOptima has added single-name credit default swaps to its ‘terminator’ service, which cancels superfluous positions between dealers. Launched for index credit default swaps last November, the expanded service eliminated 10,000 swaps worth $180 billion in its latest run in February. Fourteen dealers took part.
The service, called TriReduce, enables banks to reduce the volume of their open positions and thus the operational costs involved in servicing payments on th
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