Plus Markets Unveils New Swap Contract

Plus Markets Group will roll out a new interest rate swap contract.

Plus Markets Group will roll out a new interest rate swap contract, Financial Times reports. The U.K. group has partnered with FTSE International to launch its own U.S. dollar-denominated swap interest contract (SIC).

The Plus SIC contract will be based on FTSE Medium Term Interest Rate Swaps index and cover futures at both the short end and the long end interest rate yield curve. The new offering will be cleared by LCH.Clearnet, adds Bloomberg.

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