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OCBC joins HKEX’s OTC Clear
OTC Clear offers clearing services for USD/HKD and USD/CNH cross-currency swaps.
OCBC will be a direct clearing member of OTC Clearing Hong Kong Limited (OTC Clear), a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX).
As a member of the OTC Clear, OCBC will have access to clearing services for over-the-counter (OTC) derivatives in cross-currency swaps (CCS) and interest rate swaps (IRS) for HKD and CNH.
“Central clearing for these derivatives will lower costs and mitigate counterparty risks,” OCBC said.
As an OTC Clear member, OCBC can also participate in Swap Connect, which launched its Northbound channel in May 2023.
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