Portfolio Compression for outstanding IRS trades carried out on 10th September 2020


On  10th September 2020, CCIL successfully carried out the 19th 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. 21 large foreign, private and nationalized sector Banks and Primary Dealers participated in this exercise. Of the 17,561 trades between 21 members which were found to be eligible for being considered for compression, 15,588 trades were identified for early termination achieving a compression of over 88.76%. 15,358 trades were terminated fully while 230 trades were partially terminated. The reduction in market-wide Notional Outstanding of Rs. 6,26,673.58 crores was achieved through this portfolio compression exercise. The compression exercise included both trades cleared by CCIL and non-cleared trades.