麻豆传媒

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
麻豆传媒
Leading the Way

Global 麻豆传媒 Finance News and Commentary
≔ Menu
麻豆传媒
Leading the Way

Global 麻豆传媒 Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Derivatives news
  3. LCH clears first SORA swaps
Derivatives news

LCH clears first SORA swaps


20 May 2020 London
Reporter: Natalie Turner

Generic business image for news article
Image: FTiare/Shutterstock.com
LCH has cleared the first Singapore dollar interest rate swaps, referencing the Singapore overnight rate average (SORA), making it the first clearinghouse to offer this derivative product.

The SORA swaps were launched in collaboration with the market and in response to customer demand, LCH says, with Standard Chartered was party to the first SORA cleared derivatives trade.

LCH says it has implemented clearing of SORA swaps as the industry continues to adopt alternative interest rate benchmarks.

The clearinghouse also offers swaps clearing referencing the euro short-term rate, the secured overnight funding rate, the Swiss average rate overnight rates, along with sterling overnight indexed average futures.

鈥淐learing this product is a vital step in the transition to broader adoption of SORA across the Singapore market,鈥 comments Daniel Koh, global head of treasury markets at Standard Chartered.

鈥淚n turn, we are pleased to be able to offer SORA swaps to our clients for hedging,鈥 he adds.

Kate Birchall, head of Asia Pacific at LCH, says: 鈥淭he introduction of clearing derivatives referencing SORA is another important milestone in the global efforts to move to alternative reference rates.

鈥淐learing this product has involved close collaboration with a variety of stakeholders in Singapore and the wider market. We are pleased to bring these efforts to fruition by being the first to offer these new cleared products to our members and their clients to facilitate increased efficiencies.鈥
Next derivatives article →

Eurex expands OTC clearing services to Japan
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 麻豆传媒 Finance Times
Advertisement
Subscribe today
Knowledge base

Companies in this article
→ Standard Chartered

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →