SwapClear may assist OIS development
SwapClear, the interest rate swap clearing service run by London-based LCH.Clearnet, wants to extend the use of overnight indexed swap (OIS) discounting to its entire swaps portfolio – and, as part of that, might help develop OIS markets in countries that don’t currently have them.
SwapClear began discounting dollar, euro and sterling interest rate swaps using OIS in June 2010, and said last month it would do the same for yen-denominated trades from October, which will bring a further ¥1,417
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