The Asian exchange won regulatory approval to launch OTC Clear in 2013
The Hong Kong Exchanges and Clearing
Ltd’s clearing house, OTC Clearing Hong Kong Ltd
(OTC Clear), has Monday launched clearing for cross currency
swaps (CCS), initially for USD/CNH swaps, in a bid to boost
"OTC FIC (fixed income and currency)
market participants face an increasing range of
regulatory-driven balance sheet and capital pressures when
trading with certain market counterparts, which central
clearing via a well-capitalised, internationally recognised
clearing house can help to alleviate," said HKEX Chief
Executive Charles Li.
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