trueEX to shut swaps trading platform

Would-be disruptor will exit business on July 19, leaving swaps market in hands of incumbents

TrueEx_Sunil Hirani 2-web
Sunil Hirani in 2016: “The interest rate swaps markets are near impossible to break into; they’re like a fortress.”

Interest rate swaps trading platform trueEX will close in less than a fortnight, according to a memo seen by Risk.net.

The platform’s exit leaves the swaps market in the hands of incumbents: broker-run platforms continue to dominate interdealer trading of interest rate swaps, while dealer-to-client trading will take place on Bloomberg and Tradeweb. Startups have failed to gain a foothold – and attempts to introduce all-to-all trading have also failed.

The trueEX memo, sent late yesterday

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here