Hong Kong OTC settlement and Shanghai Clearing House cooperate to add new LPR1Y interest rate swap contracts under "Northbound Swap Connect".

According to the Zhixingtong Financial APP, on September 22, under the guidance and support of regulatory authorities in both places, Hong Kong Exchanges and Clearing Limited (00388.HK) subsidiary Hong Kong OTC Clearing Limited (referred to as Hong Kong OTC Clearing) and China Foreign Exchange Trading Center and China Interbank Market Clearing Corporation Limited (referred to as Shanghai Clearing Corporation) have joined forces to increase interest rate swap contracts with the one-year loan prime rate (LPR1Y) as the reference rate under the Northbound Interchange.