In the third week of January, Capitolis completed its 19th standardized approach – counterparty credit risk (SA-CCR) optimization run for FX derivatives.
This latest series of compression trades incorporated a record number of participants, while also driving a record reduction of over $290 billion in effective notional.
In aggregate over the past 12 months, the firm has enabled a $2.5 trillion reduction in effective notional.
The leading banks in foreign exchange trading were hit hard in 2022 by the impact of new capital requirements from the SA-CCR rules finally being applied to short-dated FX forwards, FX swaps and swaptions.
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