Pivot accesses over-the-counter market

It has been used in the weather derivatives market since February but makers now believe the product can be applied with wider scope. The product will be rolled out in the third quarter of 2008. Brokerage firms Icap, GFI Group and TFS Energy have all signed up as customers.

“We need a tool like this to provide structured electronic communication and collaboration to improve productivity, drive business and increase revenue,” said Colt Heppe of Icap.

The trading tool claims to make client act