On March 31, Deutsche Bank electronically traded and cleared an off-exchange interest-rate swap on behalf of a hedge fund client in what it termed “one seamless move.”
The development may mark the first time an over-the-counter interest-rate swap has been handled electronically from order to clearance, for an institutional buyer.
The trade was executed on Deutsche’s proprietary, single-dealer electronic trading platform, called Autobahn. The transaction was confirmed over Markit Wire, the confirmation-affirmation “matching” service of MarkitServ.
Read more at Securities Industry News
Filed under: Single-Dealer Platforms, STP, SWAPS | Tagged: best execution, SDP, single-dealer platform, STP, Swaps |
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