Axiom Global Partners, the New York-based inter-dealer brokerage, has launched its electronic credit default swap (CDS) broking platform in the London market.The brokerage has already set up shop in London with voice broking, but will now offer its voice-assisted, electronic broking platform as well, for trading index and emerging market CDSs.
Axiom’s London office will concentrate on broking index trades, emerging market CDS and basis trades and investment grade CDSs. The company also has designs on the structured credit market, and said is has appointed a team to focus on tranches, first-to-default baskets and CDS options.
Axiom has created its London team with brokers lured from high-profile rivals such as Cantor Fitzgerald and Icap. The company said it plans to expand and will be announcing further appointments in the near future.
The company’s move puts it alongside Icap, GFI, Creditex and Prebon - brokers that already offer electronic trading platforms. CreditTrade, however, still remains without an electronic offering.
More on Technology
Bank technology needs continue to evolve
Data has been a problem for the past two decades for firms in the region
Increasing role of technology is key trend in two decades since launch of Asia Risk
Business strategies must be able to leverage technologies with right attitudes in place, say C-Level panelists.
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.