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On 12th September 2024, CCIL successfully carried out the 35th cycle of the Portfolio Compression exercise in the Interest Rate Swaps market for MIBOR Benchmark, aimed at reducing the overall notional outstandings and the number of outstanding contracts by identifying economically redundant trades for early termination. 29 large foreign, private and nationalized sector Banks and Primary Dealers participated in this exercise. Of the 21,829 trades between 29 members which were found to be eligible for being considered for compression, 19,238 trades were identified for early termination achieving a compression rate of 88.13%. 18,918 trades were terminated fully while 320 trades were partially terminated. The reduction in market-wide Notional Outstanding of Rs. 7,25,323.73 crores was achieved through this portfolio compression exercise. The compression exercise included both trades cleared by CCIL and non-cleared trades.