First all-RFR cross-currency swap traded
Goldman Sachs and Morgan Stanley strike landmark €STR v SOFR trade
Goldman Sachs and Morgan Stanley are believed to have transacted the first cross-currency swap to use new risk-free rates for both legs of the trade – a fresh landmark in attempts to cast off the Libor family of reference rates.
The euro/dollar trade was reported to the Depository Trust & Clearing Corporation’s (DTCC) repository on November 21, but in slightly confusing fashion. Spokespeople for
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Markets
How Pimco, Capital Group funds bet on falling US rates
Counterparty Radar: Inflation hedge would soften impact for Capital Group; Pimco’s swaptions structures targeted modest decline
Garage upstart turns Polymarket bets into benchmarks
Belief Systems launches 13 prediction indexes, but faces adoption hurdles
CLS to launch CNH PvP settlement service
Plan will involve settling offshore renminbi in Hong Kong via separate PvP session
Autocall ETFs set to triple, with products tied to gold and rockets
New market’s rapid expansion includes both defensive and high-octane offerings
Beyond FX HedgePool: what’s next for all-to-all?
Proponents see bright future for trading model, but obstacles to take-up remain
China opens door to CGBs as initial margin
CCDC’s new rules expected to drive use of CGBs as collateral in non-cleared and cross-border trades
Fragmented rules obstruct tokenisation efforts, panellists say
Divergent US, UK and EU stablecoin rules and legal protections limiting cross-border growth
ETF surge shows ‘worst-of’ autocalls have life in them yet
Assets in older structures have caught up with vol target versions that looked set to dominate
