China Foreign Exchange Trading Center: Optimize the introduction of historical starting rate contracts and add a single compression service to realize the early exit of northbound swap contracts

On May 13, the swap pass business has been running smoothly since its launch in May 2023, with a steady increase in the number of participants and a significant improvement in market liquidity. At present, overseas asset management institutions will use IMM contracts for asset allocation and risk management. In response to this demand, this optimization has launched the Northbound Swap Pass IMM contract, in order to better meet the market entry transaction needs of overseas asset management institutions. At present, international mainstream central counterparty clearing institutions mainly use compression and other services to achieve early exit of contracts. This optimization introduces historical starting interest contracts and adds a single compression service to achieve early exit of the Northbound Swap Pass contract. The above two product features and service optimization will also help the RMB interest rate swap market to further integrate with international standards.