SwapClear will in October extend blended compressions to include FRAs
exchange (FX) clearing division has cleared the first FX
non-deliverable-forward (NDF) via a SEF, the latest development
in the space, and ahead of a clearing mandate for NDFs.
The London-based clearing
house’s ForexClear business has cleared the first
FX NDF via a swap execution facility (SEF), signifying momentum
in FX clearing.
In the first trade of its kind, ForexClear
cleared the NDF trade on Currenex’s SEF on behalf
of client Virtu, with Societe Generale’s Newedge
acting as its futures commission merchant (FCM).
Traiana’s limit monitoring utility, Credit Link
was the credit hub for the trade and SocGen was the executing
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