Compression firms vie to ease Libor switch

Quantile and TriOptima launching services to tear up Libor swaps and replace with new rates

swaps-compression

Market participants may get help in kicking their Libor habit. At least two providers of swaps compression services – which tear up and replace trades – are currently tweaking their technology so Libor-linked swaps can be exchanged for those referencing new risk-free rates (RFRs).

Quantile Technologies aims to have its first live run before the end of June. It will close out short-dated Libor swaps cleared at LCH’s SwapClear, and replace them with new instruments referencing Sonia – the rate

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