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European Interest Rate Swap e-trading


MTS, Finextra, MTS to bring swaps e-trading to buy side firms, here.

The venture, which is expected to go live in Q4 2013, will use innovative technology to increase customer choice and will enhance transparency and efficiency in European interest rate swaps.

Drawing upon existing MTS distribution, technology and market expertise, the platform will enable buy-side participants to trade interest rate swaps with a diverse range of liquidity providers via a prime bank. This provides them with access to the best prices available in the market while allowing them to maintain and strengthen their existing trading relationships.

A number of banks including BNP Paribas; Commerzbank AG, Crédit Agricole Corporate and Investment Bank; HSBC; Lloyds Bank Commercial Banking; Societe Generale Corporate and Investment Banking; and UBS AG have signed MoUs indicating their intention to support the platform from launch. MTS Swaps will support the full trade lifecycle from pre-trade price discovery and execution to post-trade reporting and connectivity to clearing. The platform will support interest rate swap trading via request for competitive quote (RFCQ) and executable prices.

MTS Swaps will be an FCA regulated market managed by EuroMTS Limited.


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