Awards
TriOptima wins awards
Risk Magazine 20th Anniversary Industry Trade Processing
Platform Award 2007 TriOptima's termination service, triReduce,
was recognized again for its major contributions to minimizing
operational, legal and counterparty credit risk by offering OTC
derivative dealers regular opportunities to eliminate trades from their
portfolios. From triReduce's launch in 2003 through May 2007, over 100
market participants terminated 192,000 interest rate swap contracts and
263,000 CDS single name and index transactions. A staggering 8.7 million
fixings and 12.7 million payments for IRS swaps were eliminated, as well
as 9.6 million CDS payments.
Financial News 21 Technology Companies for the 21st Century
Financial News named TriOptima in its second annual list of 21
technology companies shaping the future of finance for the 21st century
. Citing both its “flagship” multilateral terminations product,
triReduce, and its recently-launched portfolio reconciliation service,
triResolve, Financial News included TriOptima in a list of 21 “companies
with innovative technology, a clear vision of how they might improve the
markets in which they operate, and … some track record of success…” They
recognized TriOptima as an emerging force in supplying systems to
simplify the risky business of OTC derivatives confirmations and
settlement.
Risk Magazine 2006 Technology Platform of the
Year Labeled a "godsend" for the credit derivatives market,
TriOptima was cited by Risk for its ability to help credit derivative
dealers "clear redundant trades off their books and reduce the size of
their portfolios" through the triReduce termination service which was
originally deployed for interest rate and energy swaps. Risk also
praised TriOptima's "willingness to help the industry cope with recent
major credit events" by introducing special termination cycles,
extending its matching functionality, and calculating post default cash
settlement payments.
Asia Risk 2005 Technology Innovation of the Year In announcing TriOptima's award, Asia Risk noted TriOptima's growing success terminating Hong Kong dollar swaps through triReduce, as well as potential for future success in other Asian markets. "For TriOptima's innovative idea, its epic algorithm and the efficiencies it will help bring to Asian markets, the Swedish company is a clear winner in the technology space for 2005."
Energy Risk 2005 Innovation of the Year "triReduce, the multilateral swap cancellation service, has already make a splash with energy traders since its launch into the energy markets..." announced Energy Risk in its award profile. The first crude oil termination cycle cancelled 1,888 oil swaps, and energy traders are looking forward to future cycles not only in oil but power and gas. Describing TriOptima, Energy Risk commented "...its future looks very bright."