trueEX adds BRL to its IRS product
23 August 2016 New York
Image: Shutterstock
trueEX has expanded its interest rate swaps (IRS) offering by adding Brazilian real (BRL) to its roster of available currencies.
According to trueEX, BRL swaps can be cleared and retrieved directly at CME Group without any middleware in the same way as its established interest rate swaps offered on the trueEX platform.
The addition of BRL comes shortly after trueEX launched a Mexican peso (MXN) IRS in January and brings the total number of currencies its offers through its IRS products to 19.
“We are excited to expand our important relationship with CME Group so that the benefits of execution, processing and clearing are available in this new, vibrant market,” said Sunil Hirani, CEO of trueEX.
“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.”
CME Clearing is the only global clearing house to offer clearing in 19 IRS currencies including MXN, BRL and US dollar Swaptions.
“Latin American markets have experienced substantial growth over the past year, and our clients have increased their voluntary clearing of MXN and BRL interest rate swaps.” said Sunil Cutinho, president of CME Clearing.
According to trueEX, BRL swaps can be cleared and retrieved directly at CME Group without any middleware in the same way as its established interest rate swaps offered on the trueEX platform.
The addition of BRL comes shortly after trueEX launched a Mexican peso (MXN) IRS in January and brings the total number of currencies its offers through its IRS products to 19.
“We are excited to expand our important relationship with CME Group so that the benefits of execution, processing and clearing are available in this new, vibrant market,” said Sunil Hirani, CEO of trueEX.
“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.”
CME Clearing is the only global clearing house to offer clearing in 19 IRS currencies including MXN, BRL and US dollar Swaptions.
“Latin American markets have experienced substantial growth over the past year, and our clients have increased their voluntary clearing of MXN and BRL interest rate swaps.” said Sunil Cutinho, president of CME Clearing.
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