09:01 Sep 26, 2022
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Portfolio Compression for outstanding IRS (MIBOR Benchmark) trades carried out on 22nd September 2022

 

On 22nd September 2022, CCIL successfully carried out the 27th cycle of the Portfolio Compression exercise in the Interest Rate Swaps market for MIBOR Benchmark, aimed at reducing the overall notional outstandings and the number of outstanding contracts by identifying economically redundant trades for early termination. 23 large foreign, private and nationalized sector Banks and Primary Dealers participated in this exercise. Of the 11,352 trades between 23 members which were found to be eligible for being considered for compression, 7,058 trades were identified for early termination achieving a compression of over 62.17%. 6,811 trades were terminated fully while 247 trades were partially terminated. The reduction in market-wide Notional Outstanding of Rs. 2,53,247.52crores was achieved through this portfolio compression exercise. The compression exercise included both trades cleared by CCIL and non-cleared trades.

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