Quantile Named ‘Global Compression Service of the Year’ (Again)
Quantile, has been awarded GlobalCapital’s Global Compression Service of the Year – for the second consecutive year.
Praised by GlobalCapital Magazine for a year in which Quantile, "grew its core business and evolved its offering to meet clients' needs against a shifting regulatory backdrop," the award recognises Quantile's success in supporting banks to manage their counterparty risk while also increasing the efficiency and liquidity of financial markets.
Quantile's compression service eliminates on average more than $10 trillion of OTC derivatives gross notional monthly and has delivered several of the largest runs since regulatory reporting of compression activity was introduced in 2018.
During the last 12 months Quantile has delivered on its ambitious growth plans while enhancing its business through new innovations, including aiding the transition to risk-free rates by adding new alternative benchmark trades as risk replacements, launching cleared interest rate initial margin optimisation at LCH, and optimising reset risk within the compression process – which is expected to boost notional efficiency by up to 30%.
Quantile's early adoption of cloud technology and the decision to build its platform directly within Amazon Web Services (AWS) was also highlighted as a particular success in 2020. Quantile seamlessly continued to offer all services throughout the Coronavirus pandemic, completing its two largest runs to date in April – a USD run reducing $7.2 trillion and a EUR run reducing $4.7 trillion.
Andrew Williams, CEO of Quantile, commented, "This has been an extraordinary year for the entire market and we're very happy to see our growth and innovation recognised by GlobalCapital for the second year running. In the middle of a pandemic, we continued to offer the same quality and level of service but also maintained our focus on delivering new services that directly and measurably help our clients and the market to better manage risk and increase efficiency."