Swap futures start-up needs dealer support, says buy side

A new London-based trading platform that hopes to launch a swap futures contract next year needs to secure dealer support in order to gain traction, say buy-side fans of the project. The new venture doesn't currently have the backing of any major market-makers, but the firm's management believes early buy-side enthusiasm will encourage dealers to come on board.

Global Markets Exchange (GMEX) Group launched in August, and announced earlier this month that it will launch a new interest rate swap