Six international banks and financial information provider Bloomberg have launched a joint venture company to operate an online interest rate derivative trading platform.The six banks - ABN Amro, Barclays Capital, Calyon, HSBC, JP Morgan and Société Générale - and Bloomberg will all own equal shares in the still-unnamed company. The company will use software based on Bloomberg's existing SwapTrader online trading platform. Participants expect the joint venture will improve liquidity and attract additional clients: "We believe it will be beneficial for our clients, good for the market and good for HSBC," said Nick Green, HSBC's head of eCommerce in Paris.
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