LCH SwapAgent processes its first SONIA/SOFR cross-currency basis swap
The trade was completed ahead of the upcoming discounting and Price Alignment Interest transition to USD SOFR at LCH SwapAgent. LCH SwapAgent, a service for the non-cleared derivatives market, today announces that it has registered its first SONIA/SOFR cross-currency basis swap. The GBP/USD basis swap was executed between LCH SwapAgent members Bank of America and Lloyds