TriOptima completes biggest ever swap tear-up

The company said it has so far terminated around 2.1% of the total $94 trillion of outstanding inter-dealer interest rate derivatives contracts since its launch in April this year.

TriOptima currently has 28 subscriber banks and has run eight tear-up services since inception, totalling $2 trillion in euro, dollar and sterling swaps. The company said the next major round of terminations, scheduled for euro-denominated swaps, will involve around 30 banks and will be executed in October this year.

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