Tuesday September 17 2013

News Source: Global Exchanges

Focus: Trading Systems and Technology

Type: General

Country: Australia

Link:




Calypso Technology has announced that the Australian Securities Exchange (ASX) has cleared its first OTC derivatives transaction on its OTC clearing service that uses the Calypso System as its core clearing platform. The ASX OTC Derivatives Clearing Service launched on 1st July 2013, with client clearing for Australian clients expected to be commercially launched in Q2 2014.

ASX uses the Calypso solution to support OTC derivatives dealer-to-dealer clearing of standardized Australian Dollar (AUD) denominated interest rate swaps. ASX offers a cross-margining service on Calypso, enabling clearing members to offset initial margin between their interest rate swaps and 24 ASX exchange-traded interest rate futures products positions, thereby reducing the overall portfolio margin requirements. The Australian dealer community has expressed support for this service, as it retains their collateral onshore and facilitates capital efficiency via the clearing of OTC and exchange-traded derivatives together.

Click on the above link for more details.