As announced earlier in exchange notice “Nasdaq launches new FRA contract” issued on 7th of November 2018, the launch of the new FRA contract will be during first six month of 2019. It has now been agreed to introduce the contract the 1st of March 2019.
The new FRA contract “Nasdaq Stibor™ 3 Month Contract” is a revamp of the current Generic Stibor-FRA (tailor-made FRA / series name SEK_FRA_3M).
The new contract will have standardized start dates (effective as of 14 January 2019) which always occur on IMM days. This means that trading is concentrated to a limited number of interest periods, which benefits liquidity and gives this OTC instrument the advantages of a listed contract.
The new contract will be available for all members and clients. The SEK_FRA_3M series name will remain.
The current FRA Forward monthly settled contract (series name FRA**) will remain until further notice to allow all market participants to prepare for a smooth transition into the Nasdaq Stibor™ 3 Month Contract.
Product specification for the Nasdaq Stibor™ 3 Month Contract is attached.
