First for Aussies as cross currency swap goes through SwapAgent
HSBC and MUFG have executed the first ever AUS/USD cross currency basis swap using SwapAgent, LCH’s non-cleared derivatives service.
SwapAgent brings clearing efficiencies to non-cleared derivatives transactions, offering standardised credit support annexes — a big attraction to market participants — centralised records of the trade and independent valuations. Users can also close trades at the end of each day.“The ability to close your position at the ...
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