Reuters launches Electronic Interest Rate Swaps trading system
02 April 2004
Reuters (LSE: RTR), the global information company, has
announced the launch of its online brokerage service for
Interest Rate and Overnight Index Swaps, called Reuters
Matching for Interest Rates.
new service further consolidates Reuters efforts to become
the leading electronic broker for the global Treasury
market. Reuters Spot and Forward Foreign Exchange (FX)
business was the agency''s earlier successful foray in
the electronic trading of derivatives.
Reuters Matching for Interest Rates, dealers can trade
Euro denominated Interest Rate Swaps (IRS) and Overnight
Index Swaps (OIS) electronically, over their Reuters Dealing
3000. It will be extended to cover British Pound, US Dollar
and Swiss Franc IRS and OIS trading. The service has gone
live across Europe with 31 banks signing up for the service
and additional banks due to follow.
its launch across the main European financial centres,
the system will be rolled out gradually into North America
and Asia as customer demand grows.
The Matching for Interest Rate service provides:
access to real-time executable prices
on bids and offers
with timeouts on orders and links to levels of external
secure service, available over Reuters Dealing 3000
- Speed, reliability and efficient execution