Prebon will use the system initially to broker medium-term euro swaps and swap spreads. It then plans to extend this to medium-term US dollar swaps and short-dated euro swaps. The deal should bring significant liquidity and additional customers to the Swapstream trading system, said Marcus Grubb, chief executive of Swapstream.
The Swapstream trading system, which is currently in the final stages of testing, will be a neutral trading platform for swap and other over-the-counter derivatives.
Prebon Marshall Yamane provides brokerage services for financial and commercial institutions in the foreign exchange, money market, derivatives, securities, energy and emerging markets.
The week on Risk.net, July 7-13, 2018Receive this by email