Powered by OSTTRA triReduce

Reduce operational risk and cost by lowering gross notional and eliminating line items.

Reduce operational risk and cost by lowering gross notional and eliminating line items.

Portfolio Compression
Portfolio Compression

Our compression service, powered by OSTTRA triReduce, simplifies portfolios by reducing notional exposures and line items for cleared and non-cleared OTC derivative trades.


By leveraging multilateral compression opportunities across portfolios, we enable firms to mitigate risk and manage their escalating balance sheet costs, whilst operating against a backdrop of growing resource constraints. Cycles are available for cleared and uncleared interest rate swaps, inflation, cross-currency swaps, credit default swaps, FX forwards, and commodity swaps.


New collateral, clearing, and capital regulations, including SA-CCR, in the U.S., Europe and Asia are driving OTC derivative market participants to shed as much of their gross notional exposure as possible through multilateral portfolio compression. Connectivity with all the major CCPs and infrastructure providers globally means that our clients can seamlessly participate in compression cycles with other market participants throughout the world.

Benefits of our Portfolio Compression service


Can be used in multiple asset classes for cleared and non-cleared relationships.


Our uniform compression process means your experience is the same regardless of the region or product.


A reliable process underpinned by a robust legal framework.


A flexible solution that keeps pace with regulatory changes and client demand.



Recognised as the innovator and leader in multilateral portfolio compression, we collaborate with all the major CCPs: LCH SwapClear, CME, JSCC, Eurex, ASX and NASDAQ, and maximise the compression pool available for rates by supporting clearing members, future commission merchants (FCMs)/ clearing brokers (CBs) and clients to all compress in the same cycle.

Our cycles are available 28 interest rate swap currencies, multiple products and both deliverable and non-deliverable currencies, cleared and uncleared. Terminate trades and to achieve optimal results, we enable you to change the coupons, notional, start/end dates and direction and create new risk replacement trades.


Available currencies

AUD Australian Dollar INR Indian Rupee
BRL Brazilian Real JPY Japanese Yen
CAD Canadian Dollar KRW (South) Korean Won
CHF Swiss Franc MXN Mexican Peso
CLP Chilean Peso MYR Malaysian Ringit
CNY Chinese Yuan NOK Norwegian Krone
COP Colombian Peso NZD New Zealand Dollar
CZK Czech Koruna PLN Polish Zloty
DKK Danish Krone SEK Swedish Krona
EUR Euro SGD Singapore Dollar
GBP British Pound THB Thai Baht
HKD Hong Kong Dollar TWD Taiwan Dollar
HUF Hungarian Forint USD US Dollar
ILS Israeli Shekel ZAR South African Rand
Foreign Exchange

OSTTRA triReduce FX allows participants to reduce net bilateral exposures by offsetting them with new trades, all in one combined cycle.

The service is available to all CLS settlement members, dealers, prime brokers and CLS third-party clients. Both CLS and non-CLS currency pairs are in scope and our clients can also take advantage of OSTTRA triReduce compression for NDFs and precious metals.

We offer a platform for multiple institutions to regularly compress their portfolios, efficiently fulfilling the ESMA requirements and allowing firms to manage gross notional exposures and redistribute counterparty exposure. Our multilateral compression engine is utilised to reduce outstanding gross notional whilst prioritising compression of outstanding bilateral trades to help reduce bilateral net positions as much as possible, enabling participants to optimise on SA-CCR and reduce gross notional simultaneously.



Enhance the efficiency of your portfolio and maintain operational efficiency and reduce CDS exposure.

Credit compression can be synchronised with our counterparty credit optimisation cycles, powered by OSTTRA triBalance, to gain maximum risk mitigation benefits.





Single Names

Emerging markets

Index Tranches

Special Cedit Events


Reduce your open positions and lower the capital costs of Equity Index Options.


Reduce your open bilateral positions, lower capital costs and reduce line items in energy forwards and swaps.

\ For SA-CCR

Our Capital, Funding & Risk Optimisation

A low touch, cross-asset class optimisation service targeting multiple risk measures simultaneously.


Find out more

Included Service

Multilateral Backloading

Facilitating Multilateral Backloading for Clearing Eligible Products.

Our seamless mechanism for backloading trades into clearing houses leverages the multilateral benefits of bulk optimisation and processing connectivity via OSTTRA MarkitWire.

Learn more

Benchmark Conversion

Manage the transition of legacy benchmarks in OTC swaps portfolios.

Clearing participants can both eliminate legacy benchmark transactions from their OTC swap portfolios whilst proactively and iteratively converting the remainder onto alternative reference rate benchmarks. With our regular schedule of Benchmark Conversion cycles, firms can manage the pace of their benchmark transition.

Learn more

Cross-Currency Swap Conversion

Conversion of non-cleared cross-currency swaps.

Offers proactive conversion of non-cleared cross-currency swaps that reference legacy benchmarks. The service provides flexibility whilst mitigating the risks involved in converting to the new alternative RFRs.

Learn more

Contact our team of Portfolio Compression experts

To find out more about our end-to-end post-trade solutions, please share your details with a short message and we will get in touch with you soon.

Thank you

A member of our team will contact you.