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香港场外结算与上海清算所联手在“北向互换通”下新增LPR1Y利率互换合约
智通财经网· 2025-09-22 12:18
智通财经APP获悉,9月22日,在两地监管机构的指导与支持下,香港交易所(00388)旗下的香港场外结 算有限公司(以下简称香港场外结算)与中国外汇交易中心和银行间市场清算所股份有限公司(以下简称上 海清算所),联手在北向互换通下增加以一年期贷款市场报价利率(LPR1Y)为参考利率的利率互换合 约。 未来,三方基础设施将继续在两地监管机构指导下,与所有市场参与者紧密合作,不断丰富互换通产 品,完善风险管理框架,推动内地与香港金融市场共同发展,助力中国金融市场高水准对外开放。 贷款市场报价利率(LPR)在中国贷款定价领域应用广泛,在北向互换通下引入LPR利率互换合约,将进 一步丰富境外投资者可使用的风险管理工具,满足境外投资者多样化的利率风险管理需求,有助于推进 人民币国际化进程。 此外,从今日起,香港场外结算将现有的人民币不交收利率掉期(CNY NDIRS)合约的最长期限从5.5年 延长至 11 年,以便境外投资者更好地管理利率风险。 互换通通过两地清算所互联,在充分保留两地监管规则、市场结构和交易习惯的前提下,为境内外投资 者参与两地金融衍生品市场提供了更为便捷、高效、安全的渠道。自2023年5月15日上线 ...
彭博率先支持“互换通” LPR1Y挂钩利率互换合约的首日交易
彭博Bloomberg· 2025-09-22 06:05
Core Viewpoint - The article discusses the launch of interest rate swap contracts linked to the one-year Loan Prime Rate (LPR1Y) under the "Northbound Swap Connect," aimed at meeting the diverse risk management needs of overseas institutions [2][3]. Group 1: Introduction of LPR1Y Interest Rate Swaps - The People's Bank of China has approved the trading and centralized clearing of interest rate swap contracts linked to LPR1Y, effective immediately [2]. - Bloomberg has initiated support for the first day of trading for these LPR1Y-linked swap contracts [2]. Group 2: Bloomberg's Role and Enhancements - Bloomberg's IRS trading portal now supports various financial instruments in the onshore derivatives market, including the newly added LPR1Y interest rate swaps [2]. - Bloomberg has previously upgraded its "Swap Connect" solution to support IRS contracts with settlement dates aligned with the International Monetary Market (IMM) and to allow early exit from contracts through compression services [3]. - The integration of LPR1Y interest rate swaps into Bloomberg's existing "Swap Connect" solution provides investors with precise long-term investment matching tools without altering current workflows [3]. Group 3: RFQ Workflow - Authorized Bloomberg terminal users can initiate requests for quotes (RFQ) from a list of approved onshore dealers by the People's Bank of China, allowing them to receive pricing and necessary transaction execution information [6].