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OTCX completes world’s first electronic non-deliverable interest rate swaps in five emerging market currencies


OTCX, an independent digital portal for price discovery and negotiation in OTC derivatives, has facilitated the world’s first electronic non-deliverable interest rate swaps in Colombian Peso (COP), Malaysian Ringgit (MYR), Chilean peso (CLP), Chinese Yuan (CNY) and Taiwan Dollar (TWD).

This interest rate derivatives activity in new risk reflects the opportunities available for increased portfolio diversification, and the exponential growth in demand for a digital solution to replace manual processes in OTC derivatives trading.

Reflecting this burgeoning demand, OTCX has also become the first to have facilitated and completed two-way electronic price discovery and negotiation in new risk in over 27 currencies, covering the G10 and emerging markets.

OTCX fully automates the manually intensive relationship between the buy side and liquidity providers in vanilla and exotic OTC derivatives. A browser-based digital portal replaces voice and chat with Straight Through Processing (STP) and state-of- the-art analytics, improving efficiency and cutting costs.

Nicolas Koechlin, founder and CEO of OTCX, says: “We’re expanding our growing emerging markets capability and pioneering the digitisation of the OTC derivatives market. It is essential to overcome the needless obstacles and friction of voice and chat with a solution that offers greater transparency and access to prices across the spectrum of currencies and markets. Our goal is to accelerate this process with innovative technology that serves the buy side, sell side and end investor.”

In 2018, OTCX has also been active in Interest Rate Derivatives for new risk and compression in Singapore Dollar (SGD), Brazilian Real (BRL), Czech Koruna (CZK), Israeli Shekel (ILS), Korean Republic Won (KRW), Hungarian Florin (HUF), Thai Baht (THB), Polish Zloty (PLN), Mexican Peso (MXN), Indian Rupee (INR), Hong Kong Dollar (HKD) and South African Rand (ZAR).

The company is continuously expanding its range of currencies with leading liquidity providers for a fast-growing client base wanting price discovery and digital negotiation in an integrated workflow for the future.

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