TriOptima trims six companies' oil swap portfolios
TriOptima, a Swedish company dedicated to reducing over-the-counter swap portfolios, has expanded its service into energy. The company has terminated its first group of multilateral OTC oil derivative swaps, with six companies eliminating unnecessary trades worth $3.87 billion from their portfolios.
The terminated volume represented 350 million underlying barrels of oil, most of which was in Brent and West Texas Intermediate indexes, with some volume in the spread
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