Cross-currency futures might ease bilateral burden | Foreign exchange Information
CME Group is making ready to launch a new cross-currency foundation future that it says might present a more environment friendly means for banks’ short-term rate of interest (Stir) trading desks to hedge dangers of their overseas exchange swaps and forwards books.
The contract, which is scheduled to launch on February 3 pending regulatory approval, will enable banks and hedge funds to trade the three-month euro/US greenback cross-currency foundation in a futures format for the primary time.
“Cross-currency swaps have usually been
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