LCH clears first Sing-dollar interest rate swaps referencing SORA
Global clearing house clears swaps with StanChart, OCBC as counterparties
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GLOBAL clearing house LCH has cleared the first Sing-dollar interest rate swaps referencing the Singapore Overnight Rate Average (SORA), it said on Tuesday.
Singapore is transitioning from the use of the Sing-dollar Swap Offer Rate (SOR) to SORA over the next year, with the London Interbank Offered Rate (Libor) scheduled to be phased out by end-2021.
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