SGX AsiaClear aims to be Asia's CCP for rates and FX swaps

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AsiaClear, the over-the-counter derivatives clearing arm set up by the Singapore Exchange (SGX) in 2006, has moved a step closer to becoming the regional central counterparty (CCP) clearer for both Singapore and US dollar interest rate swaps for Asian local banks that are not members of global independent clearers, such as the LCH.SwapClear.

SGX president, Muthukrishnan Ramaswami, said OTC interest rate derivatives will start being cleared the week of October 18, subject to securing final

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