TriOptima claims tear-up effect

Swedish post-trade services firm TriOptima said the 12% decline in CDS notional outstanding was caused principally by its triReduce tear-up cycles, which allow dealers to match and multilaterally unwind OTC derivatives trades. The company says it terminated $17.4 trillion notional in interdealer CDS in the first half of the year.

"As the sole provider of portfolio compression services in the first half of 2008, we can confirm that tear-ups were a positive factor in stabilising the growth in notio

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