May 16, 2016

On-Demand Same Day Compression Service From Clearcompress

An on-demand compression service delivering capital savings on cleared trades is now available to banks through ClearCompress.

An on-demand compression service delivering capital savings on cleared trades is now available to banks through ClearCompress.  It offers a rapid route to reducing gross notional and PFE versus other alternatives.

Using innovative bi-lateral compression to remove trades across mismatched cash flow dates, ClearCompress reduces gross notional across the cleared portfolio and shrinks the size of the remaining trade population.

ClearCompress, a subsidiary of New Link Consulting, provides banks with the ability to upload, analyse, compress and execute the results within a half-day cycle, using standardised file formats and industry infrastructure. This is a unique approach in the market, making the product a true “on demand” service.

David Hill CEO of ClearCompress commented: “With our new platform and rapid on-demand compression cycle, our clients can achieve material capital requirement benefits and enhanced leverage ratios. We have built a solution that offers significant benefits compared to banks executing bilateral compression themselves and we can execute a complete run, including risk reinstatement, in just two to three hours.”

ClearCompress is conscious of the challenges banks face in terms of the demands on their people and systems and has created a service that requires no infrastructure build and minimal operational overhead.

Until 31st October 2016 ClearCompress is providing an introductory offer and is capping its fees at £5,000 per client for each compression run, making pricing simple, easy to forecast and very cost effective compared to alternatives. Firms must complete their legal on-boarding process by 15th July 2016 to qualify for this offer.


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About ClearCompress

  • Major Clearing Houses operate ‘risk free’ compression services to help firms reduce the number of open positions and reduce gross notional. ClearCompress does not try to replicate this but augments existing market solutions by capturing and compressing the remaining trade population; those with small date mismatches that do not get compressed and continue to attract significant capital charges.
  • Banks upload an input file using a standard report format, from which the services provides the compression outcomes. The service also provides an upload file in standard industry formats to execute the actual compression run for both parties once agreed.
  • Light touch, configurable and independent, ClearCompress can be tailored to enable compression for clients according to their timescale, frequency and portfolio scope delivering clear and quantifiable benefits at a reasonable cost.
  • ClearCompress is a new business launched in 2016, a subsidiary of Newlink Consulting LLP


About David Hill, CEO ClearCompress

  • David is the CEO of ClearCompress bringing extensive front to back knowledge of capital markets and derivatives as well as over 20 years industry experience across both the Sell and Buy side.
  • Most recently acting in a senior consulting capacity around Clearing Strategy and change, previously he was the COO of Fixed Income for Aberdeen Asset Management where he managed a $100bn AUM business as a CF1, sitting on the Risk committee and acting as a fiduciary director to a number of trading entities.
  • During his career David also held senior positions at Deutsche Bank such as Global Head of Credit Derivative Operations and in his early career traded emerging market debt.


About David Newland, Managing Partner Newlink Consulting & Director ClearCompress

  • David is a Co-Founder and Managing Partner of New Link Consulting and is responsible for Business Strategy as well as leading the Business Integration Practice. He has over 29 years’ experience working in the Financial Services Industry, covering all asset classes of derivatives and structured products.
  • David has held key leadership roles at Bank of America and RBS. Before moving into consultancy, David was the head of derivative operations at RBS, globally responsible for all middle and back office operation teams.

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