International Derivatives Clearing Group, an independently operated subsidiary of The Nasdaq OMX Group, will be clearing four new over-the-counter interest rate derivative products through its clearinghouse.
The products are:
• US Dollar Interest Rate Swap vs. 1 Month Floating Rate
• US Dollar Forward Start Interest Rate Swap vs. 1 Month Floating Rate
• US Dollar Overnight Index Swap
• US Dollar 1 Month Forward Rate Agreement
• US Dollar 3 Month Forward Rate Agreement
“IDCG is committed to providing a rich suite of clearable OTC derivative products to the marketplace to meet end-user demand,” says Garry O’Connor, chief executive officer of IDCG.
The previous new product rollout for IDCG was in November 2009, when the clearinghouse announced the clearing of OTC US Dollar Forward Start Interest Rate Swaps vs. 3 Month floating rate.
The clearinghouse has been clearing OTC US Dollar Interest Rate Swaps vs. 3 Month floating rate since it received its CFTC approval in December 2008.
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