“北向互换通”延长产品合约期限至30年 填补超长期限利率管理工具空白

Core Viewpoint - The extension of the "Northbound Swap Connect" product contract period to 30 years fills a gap in ultra-long-term interest rate management tools in the market [1] Group 1 - The "Northbound Swap Connect" product will be launched on June 30, 2025, with a contract period extended to 30 years [1] - On the launch day, 25 domestic and foreign institutions participated, with a total of 56 transactions and a nominal principal scale of 1.53 billion RMB [1] - The infrastructure successfully organized the first day's trading and settlement, with normal and stable operation of the business and systems [1] Group 2 - To reduce participation costs for institutions, the Foreign Exchange Trading Center and Shanghai Clearing House will waive the trading and clearing fees for the "Northbound Swap Connect" for one year [1] - The interbank market will also extend the centralized clearing contract period, considering the linkage effects between domestic and foreign markets [1]