interest rate swaps

Market participants to leverage Connexus to trade cleared interest rate derivatives

IPC Systems, Inc., a leading provider of voice and electronic trading communications solutions to the world’s top financial services firms has announced that they have added Eris Exchange, a U.S.-based futures exchange, to IPC’s Connexus Financial Extranet service.

-Client clearing on SwapClear up by 175% in 2012 to over USD 700 billion total notional

New Credit Default Swaps Record in March with More Than $53 Billion Cleared

CME Group, the world's leading and most diverse derivatives marketplace, today announced that the company has surpassed $500 billion in total notional value cleared in interest rate swaps (IRS) and credit default swaps (CDS).  In addition, the company had a monthly volume record of $53.3 billion in CDS cleared in March, a 344 percent increase over the previous record month in February.

The initiative aims to enhance NYPC’s proven “one-pot” capabilities to offer:

• Cross product-margining & default management across fixed income, cash, repo, futures and OTC interest rate swaps

• Extended capital and operational efficiencies

• Unified risk management approach

Newedge to offer CCP clearing services for Interest Rate Swaps at CME Cleared IRS and LCH SwapClear in partnership with Societe Generale Corporate & Investment Banking (SG CIB) and Crédit Agricole Corporate and Investment Bank (CACIB).

New Program to Provide Industry-Leading Risk Management and Unparalleled Capital Efficiencies

Tradition publishes data powered by Trad-X

Tradition, the global interdealer broker, has announced that data from Trad-X, its hybrid trading platform for OTC derivatives, will be made available from 1 March as specialist content with leading data vendors Thomson Reuters and Bloomberg. The data will be available on desktops with the ability to license its use within non-display applications. Trad-X’s data will initially focus on Euro Interest Rate Swaps.

The International Swaps and Derivatives Association, Inc. (ISDA) today announced the publication of a paper titled “Interest Rate Swaps Compression: A Progress Report.” The paper describes a risk reduction practice, portfolio compression, which was introduced to the interest rate swap (IRS) market in 2003 by TriOptima. It also highlights how compression could be optimized to achieve greater effect in reducing interest rate swap notionals.

TriOptima and LCH.Clearnet Limited (LCH.Clearnet) today announced that $110 trillion in total notional volume in EUR, JPY, GBP and USD interest rate swaps has been terminated by 21 SwapClear members using TriOptima’s triReduce service since the first cycle in 2008. In 2012 alone, $20.4 trillion has been eliminated, accelerating a trend to larger and more frequent termination cycles.  

$28 Trillion in Total Notional also Cleared in January

Clients cleared in seven of the 17 available currencies

LCH.Clearnet Limited’s (LCH.Clearnet’s) market-leading interest rate swap (IRS) clearing service, SwapClear, today announced that in January it cleared U.S. $34 billion in total notional client business across seven of the 17 currencies currently available. These volumes bring the total client notional outstanding to $288 billion. During this period, SwapClear also cleared $28 trillion of total notional business.