ANZ Co-Head of Fixed Income, Currencies & Commodities Eddie Listorti said: “Joining ASX’s central counterparty clearing service will ensure ANZ is well placed as clearing interest rate swap volumes expand as expected in 2014.”
“Being a member of the ASX’s service will help ANZ to better manage its risk and to deploy capital more efficiently when meeting emerging global regulatory standards,” Mr Listorti said.
ANZ is now the only Australian bank to be a member of the ASX and the London-based LCH.Clearnet SwapClear clearing services. ANZ joined LCH.Clearnet’s SwapClear service in September.
ASX’s OTC Derivatives Clearing Service was launched on 1 July 2013 and provides central counterparty clearing for standardised OTC-traded Australian dollar interest rate derivatives. The first live trade was cleared in mid-September 2013 and the service currently clears AUD IRS, OIS and Basis Swap trades.