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OTC Clear clearable products

Currently OTC Clear clears interest rate swaps (IRS), Northbound interest rate swaps (NB IRS), non-deliverable currency forwards (NDF), cross currency swaps (CCS) and deliverable FX (DFX).

The following table summarises the products accepted by OTC Clear for clearing:

Products Currency Maximum residual term  
 Northbound interest rate swaps CNY (Renminbi)

10 years*

Single currency interest rate swaps

CNY (offshore)

USD

EUR

HKD

11 years

16 years

11 years

16 years

Single currency basis swaps

USD

EUR

HKD

16 years

11 years

16 years

Non-deliverable interest rate Swaps

CNY (Renminbi)

INR (Indian Rupee)

KRW (Korean Won)

TWD (New Taiwan Dollar)

5.5 years

11 years

11 years

             11 years               

Cross currency swaps

USD vs CNY (offshore)

USD vs HKD

11 years

16 years

Non Deliverable Currency Forward

USD / CNY (Renminbi)

USD / INR (Indian Rupee)

USD / KRW (Korean Won)

USD / TWD (New Taiwan Dollar)

 2 years
 Deliverable FX (DFX) - FX Forward

USD vs CNY (offshore)

USD vs HKD

3 years 
 Deliverable FX (DFX) - FX Swaps

USD vs CNY (offshore)

USD vs HKD

3 years 

* The maximum residual term of SHIBOR_3M and FR007 is 10 years, while the maximum residual term of SHIBOR O/N is 3 years.

Further details of the products can be found below:

       IRS

       NB IRS

       NDF

      CCS

       DFX

OTC Clear will continue to expand its product scope to a wider range of contract currencies, tenors and asset. OTC Clear will take into account industry views and market developments when introducing new products for clearing.


Updated 30 Apr 2018