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LCH clears first Sing-dollar interest rate swaps referencing SORA

Global clearing house clears swaps with StanChart, OCBC as counterparties

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Published Tue, May 19, 2020 · 09:50 PM

Singapore

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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