“As derivatives become more transparent, more liquid and more efficient to execute, we expect this to attract new clients, such as real money asset managers, into the derivatives market, and for them and existing users to transact in increasingly significant size,” said Michael Davie, chief operating officer for European credit and rates at JP Morgan in London. He acknowledged that interest rate swaps had been slower than other markets to adopt electronic trading and processing platforms, which "could be attributable to the non-standard characteristics of the majority of interest rate derivatives transactions executed in the market". He was also keen to highlight the importance of efficient post-trade confirmation process for attracting users.
The original backers of Bloomberg SwapTrader on its launch were ABN Amro, Bank of America, Barclays Capital, Morgan Stanley and the Royal Bank of Scotland.
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