From 6 July, OTC Rule and Handbook amendments supporting multilateral compression on ASX’s OTC interest rate derivatives clearing service will be effective.
The amendments made to the OTC Rules and Handbook are available here.
Multilateral compression is an important service that provides users with the ability to reduce their outstanding notional value and individual trade line items – leading to a reduction in capital costs and operational risk.
Multilateral compression cycles will be available on dates and times specified by ASX, in consultation with OTC Participants and Approved Compression Service Providers.
ASX is also pleased to announce that TriOptima AB has been appointed as the first Approved Compression Service Provider under the new OTC Rules.
ASX will work with TriOptima and OTC Participants on scheduling the first multilateral compression cycle.
Allan McGregor, Senior Manager, Derivatives & OTC Markets