CurveGlobal is pleased to announce the launch of a new interest rate derivatives venture between London Stock Exchange Group, a number of leading dealer banks: Bank of America Merrill Lynch, Barclays, BNP Paribas, Citi, Goldman Sachs, J.P. Morgan and Société Générale, together with the Chicago Board Options Exchange.
The move comes as the Bank of England indicates a shift to SONIA as an alternative interest rate benchmark based on transactions to LIBOR, which has been plagued with scandals.
CurveGlobal’s aim is to develop a competitive offering via London Stock Exchange plc’s derivatives market (LSEDM) which has Recognised Investment Exchange status in the interest rate futures market, delivering lower transaction costs, and capital efficiencies through LCH SwapClear’s recently announced interest rate portfolio margining solution.