OTCX Facilitates First Electronic Interest Rate Swaps in Five EM Currencies
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OTCX Facilitates First Electronic Interest Rate Swaps in Five EM Currencies
OTCX announced today that it has facilitated the world’s first electronic non-deliverable interest rate swaps in a number of emerging market currencies. The currencies in question are the Colombian Peso (COP), Malaysian Ringgit (MYR), Chilean Peso (CLP), Chinese Yuan (CNY) and the Taiwan Dollar (TWD).
According to the statement, the development reflects the industry’s demand to digitise manual processes in over the counter (OTC) derivatives trading. This is driven by increased regulatory reporting obligations and cost constraints.
OTCX owns and operates an over-the-counter and multi-dealer derivatives platform. With the execution of the interest rate swaps, the operator is ... (read more)
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