This message contains important information regarding the Genium INET upgrade on June 6th to version 4.0.0250 which includes the new functionalities and enhancements going live June 8th, 2015.
It is mandatory to upgrade Clearing Workstation 1 (CW1) for Fixed Income members clearing OTC rates in this release to be able to support the following new functionalities and improvements launched for OTC rates in Genium INET 4.0.0250.
Compression of OTC Rates A compression service for OTC rates (IRS/OIS) will be offered to clearing members. The purpose of compression is to reduce the outstanding notional amounts but maintain the risk profile of a portfolio. The compression service will be developed in cooperation with an external provider.
Improved handling of upfront payer and termination payer for OTC rates The upfront payer in a swap trade report and the termination payer in a swap termination will no longer be specified as a participant, instead the payer will be specified as party or counterparty to be able to distinguish who will pay when party and counterparty is the same participant. If set to party: The party in the trade report shall pay the upfront/termination payment. If set to counterparty: The counterparty in the trade report shall pay the upfront/termination payment.
Technical Impact
Please visit our website where you will find technical specifications and information regarding technical impact.
For questions or comments, please contact:
Technical Operations technicalsupport@nasdaq.com +46 8 405 6750