TriOptima conducts first ABX termination cycle

TriOptima, the provider of post-trade services for over-the-counter (OTC) derivatives, has completed the first multilateral ABX index termination cycle. More than 8,000 transactions were terminated, via the company's triReduce service, says TriOptima.

"Dealers took this opportunity to net down their outstanding trades in advance of any potential events affecting notionals such as factoring or rating downgrades," says Raf Pritchard, head of service management at TriOptima in New York. "The benefit

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