Portfolio Compression for outstanding IRS trades carried out on
19th Sep ’19
On 19th Sep’19, CCIL successfully carried
out the 17th cycle of the Portfolio Compression exercise in the Interest Rate
Swaps market aimed at reducing the overall notional outstandings and the number
of outstanding contracts by identifying economically redundant trades for early
termination. 26 large foreign, private and nationalized sector Banks and
Primary Dealers participated in this exercise. Of the 19,322 trades between 26
members which were found to be eligible for being considered for compression,
16,893 trades were identified for early termination achieving a compression of
over 87.43%. 16,585 trades were terminated fully while 308 trades were
partially terminated. The reduction in market-wide Notional Outstanding of Rs.
7,98,159.74 crores was achieved through this portfolio compression exercise.
The compression exercise included both trades cleared by CCIL and non-cleared