On 10th June 2021, CCIL successfully carried out
the 22nd 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 10,659 trades between 21
members which were found to be eligible for being considered for compression,
8,869 trades were identified for early termination achieving a compression of
over 83.21%. 8,666 trades were terminated fully while 203 trades were partially
terminated. The reduction in market-wide Notional Outstanding of Rs.
4,06,315.17 crores was achieved through this portfolio compression exercise.
The compression exercise included both trades cleared by CCIL and non-cleared