Portfolio Compression for outstanding IRS trades carried out on 12th March 2020

 

On 12th March 2020, CCIL successfully carried out the 18th 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. 16 large foreign, private and nationalized sector Banks and Primary Dealers participated in this exercise. Of the 5,528 trades between 16 members which were found to be eligible for being considered for compression, 4,782 trades were identified for early termination achieving a compression of over 86.51%. 4,594 trades were terminated fully while 188 trades were partially terminated. The reduction in market-wide Notional Outstanding of Rs. 2,26,799.26 crores was achieved through this portfolio compression exercise. The compression exercise included both trades cleared by CCIL and non-cleared trades.