Cleared OIS volumes soar to over $6 trillion
LCH.Clearnet Limited (LCH.Clearnet) today announced January volumes for its market leading interest rate swaps (IRS) service, SwapClear, with cleared volumes reaching 50,000 trade sides in total, a 5% increase on January 2009.
The volumes for the month took the total outstanding notional amount of IRS transactions to $212.1 trillion with 769,000 outstanding trades.
The total value of trades during January for Overnight Index Swap (OIS) equated to a record $6 trillion and cleared volumes for the month reached 4,400 trade sides.
Joe Reilly, director SwapClear said: “The OIS figures are particularly encouraging and indicate an increased interest in OIS due to high levels of volatility. The record volumes bring the total value of OIS trades since the launch of the service in July to $16 trillion.”
SwapClear continues to consolidate its position as the leading global service for IRS, clearing over 40%* of the $342 trillion global market, across 14 currencies. Since launch, in 1999, the service has cleared over 1 million trades.
*Measured by notional outstanding as at February 2010
