TriOptima trims six companies' oil swap portfolios

The companies in question were two energy companies – EDF Energy Merchants and Electrabel – and four banks: Société Générale, Barclays Capital, Deutsche Bank and one that did not wish to be named. They reduced their operational costs, operational risk and counterparty credit exposures by terminating a total of 1,888 oil swaps.

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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