10:10 AM
MUSI Now Clearing Interest Rate Swaps Via LCH.Clearnet's SwapClear
Mitsubishi UFJI Securities International plc announced it is now clearing interest rate swap trades through LCH.Clearnet's SwapClear clearing service as a means to comply with new regulation and beef up risk management.
Global interest rate swaps, with a total value of $347 trillion through the first half of 2010, are the largest component of the world's over-the-counter derivatives market, according to data compiled by the Bank for International Settlements.
"Increased regulation and scrutiny mean reducing risk in the fast-growing OTC market is a substantial challenge," Kirsty Brown, the head of business development and strategy at MUSI said in a statement. "LCH.Clearnet is the industry standard in clearing and counterparty services and our partnership confirms MUSI's commitment to offering the best possible protection from risk." As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio