,Singapore

OCBC and Standard Chartered completes Singapore's first OIS trade using SORA

The trade is a one-year interest rate swap fixed against SORA.

OCBC Bank and Standard Chartered have completed Singapore’s first overnight indexed swap (OIS) derivatives transaction using the Singapore Overnight Rate Average (SORA) as the interest rate benchmark, the two banks announced.

The trade completed is a one-year interest rate swap fixed against SORA.

This came after the Association of Banks in Singapore and the Singapore Foreign Exchange Market Committee (ABS-SFEMC)’s 30 August 2019 consultation report, which set out a roadmap for the development of new SORA-based markets. 

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