LCH extends central clearing tenor for Sora derivatives

Singapore

THE maximum central clearing tenor for over-the-counter Singapore Overnight Rate Average (Sora) derivatives by global clearing house LCH has been extended to 21 years from 5.5 years previously.

With this clearing extension, the Monetary Authority of Singapore (MAS) will also extend the tenor of its daily Sora derivatives auctions with major derivatives dealers to 20 years from five years.