The International Swaps and Derivatives Association plans to publish an afternoon market price for Hong Kong dollar interest rate swaps from mid-to-late April. "There's been a demand to have an end-of-day fixing that will act as the benchmark of the day's activity for European and U.S. market participants," said Angela Papesch, head of ISDA's Asia-Pacific office in Singapore. The second fix will be at 4p.m.
The so-called fix rate will comprise of prices from 16 derivatives houses in Hong Kong and give a price for the one through five, seven and 10 year swaps. The trade association started to offer a morning fix, at 10.30a.m., in the summer (DW, 6/16).
