HKEX Enhances Swap Connect with CFETS and SHCH

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Follow Us on WeChat HKEX is pleased to announce today that its clearing subsidiary OTC Clear has implemented three enhancements to Swap Connect in partnership with China Foreign Exchange Trade System (CFETS) and Shanghai Clearing House (SHCH), celebrating the first anniversary of this pioneering derivatives mutual market access programme. The enhancements will provide more flexibility for international investors to manage RMB interest rate risk through China’s onshore interbank markets. The new enhancements include: The introduction of International Monetary Market (IMM) trades based on IMM dates, i.e. the third Wednesday of March, June, September and December, to align with common practices on international interest rate swap markets. The launch of solo compression service that enables participating institutions to compress trades with equal but opposite economics. Through this service, Swap Connect participants may unwind their original cleared trades before the maturity date, red ………………………………