2020 was a transformational year for LCH SwapAgent.
Clearing helps participants reduce costs for posting initial margin under the Uncleared Margin Rules.
Nasdaq said 2020 was the most active year of options trading since they launched in 1973.
OCC had a 51.2% increase in total contracts cleared from 2019.
The temporary relief recognizes the increasing use of SOFR as an alternative to LIBOR.
The regulator said the agreement of mutual equivalence is best way to avoid disruption.
The service helps the transition from JPY LIBOR to TONA.
The regulator wants to harmonize reporting requirements and ensure data quality.
The smaller notional value provides a more precise way to hedge or gain direct exposure to the index.