“In launching this addition to the Hong Kong dollar fixing service, Isda and its partners in the IsdaFix par rate service are responding to increased market demand for reliable rate fixings in this growing market,” commented Robert Pickel, executive director and chief executive of Isda. “As volumes in privately negotiated derivatives around the globe continue to climb, we at Isda endeavour to respond to market needs wherever appropriate.”
IsdaFix, Isda’s par rate screen service, was introduced in 1997 to facilitate swaps terminations and the valuation of cash-settled swaptions. Isda launched its Hong Kong dollar fixing last June in response to industry need for a swaption settlement reference rate in the local market, said the association in a statement.
The Hong Kong dollar swap rates are part of a series of rates for various currencies sponsored by Isda, based on information collected and published by Reuters and Garban Intercapital. Rates for US dollar, euro, sterling, Swiss franc and Japanese yen, as well as US dollar swap spreads, are available on various Reuters IsdaFix pages.