Singapore makes first Overnight Index Swap

Singapore has entered into the OIS market, one of the few Asian nations to offer this hedging tool.

Singapore entered into the ovenight index swap OIS market in early April, joining India and Japan as oneáof the few Asian nations to offer this hedging tool. An OIS is an exchange of a fixed for a floating interest rate with a designated overnight index used for the floating rate. SingaporeÆs designated overnight rate will be referred to as SONAR or Singapore Overnight Average Rate

OIS provides a flexible hedging tool for bank asset and liability managers and...

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