rate swap trading platform TrueEx has added Brazilian real (BRL)
interest rate swaps execution with clearing through CME, to its platform.
new offering allows BRL swaps traders to clear, execute new risk, terminate or
compact positions and process their positions directly at CME, the company says
in a statement. It also enables them to directly query their existing positions
latest addition to the 18 currencies already supported by TrueEx follows
CME’s Q4 2015 launch of BRL interest rate swaps clearing, which has since cleared
more than BRL 250 billion in notional from 25 market participants, TrueEx notes.
Sunil Hirani, CEO of TrueEx, says: “Brazilian real interest rate
swaps are one of the fastest growing currencies for the swap market, so it
makes sense to work with CME Group to offer the optimal execution, processing
and clearing services for this important market.”
Sunil Cutinho, president of CME Clearing, adds, “Latin
American markets have experienced substantial growth over the past year, and
our clients have increased their voluntary clearing of MXN and BRL interest