terminations
| November 10th, 2009 | TriOptima and LCH.Clearnet Terminate SwapClear GBP interest Rate Swaps with Notional of $500 Billion LCH.Clearnet and TriOptima announced that SwapClear members had torn up $500 billion notional in GBP-denominated interest rate swaps in a triReduce termination cycle, thereby eliminating them from LCH.Clearnet’s SwapClear service. Twelve of SwapClear’s 25 members took part in the process. The elimination of superfluous trades facilitates systems processing and reduces the administrative burden in the event of a default. The average duration remaining for the terminated trades was 11 years. |
