Isda AGM: Template for standardised interest rate swaps launched


A template for interest rate swaps with standardised coupons and maturities has been released, in a move that has been widely interpreted as an attempt by the over-the-counter derivatives industry to respond to the threat posed by swap futurisation. The market-agreed coupon (Mac) interest rate swap product, unveiled at the International Swaps and Derivatives Association's annual meeting in Singapore this morning, will trade in nine tenors ranging from a one-year contract to a 30-year contract