23 August 2017
Find out more

BNZ first New Zealand bank to join SwapClear

19 June 2017  |  3020 views  |  0 Source: BNZ

BNZ announced on 19 June that it has become a Direct Clearing Member of LCH’s SwapClear interest rate swap clearing service – and has successfully cleared its first trade as a direct member.

BNZ Head of Markets, Graeme Liddell said: “Being the first New Zealand member of SwapClear links well with our strategy as a leading NZD swap market maker to provide increased liquidity and improved execution for our fixed income clients.

“Our membership also emphasises BNZ’s commitment to local and international regulatory objectives to centrally clear OTC derivatives,” he says.

Marcus Robinson, Asia Pacific Head of Rates and FX Derivatives, LCH, said: “We are delighted to welcome BNZ as the first New Zealand member of SwapClear. By clearing with LCH, BNZ can access SwapClear’s global liquidity pool across our product range which covers 18 cleared currencies, as well as our strong risk management capability in rates clearing.

“We are seeing tremendous uptake for our clearing services in New Zealand and across Asia-Pacific. We are continuing to deliver services to international users and local market participants across the world so they can benefit from the comprehensive risk and netting efficiencies associated with clearing.”

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.dorsum.eudownload the paper now

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
16836 views comments | 40 tweets | 77 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13118 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11758 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10968 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10861 views comments | 10 tweets | 8 linkedin

Featured job

Find your next job