GFI launches electronic credit derivatives trading platform

Inter-dealer broker GFI has completed the first stage of its rollout of CreditMatch, its electronic trading platform for credit derivatives.

Dealers are now able to trade credit default swaps on European banking and insurance names electronically, GFI said. Consistent with its hybrid brokerage model, dealers can trade entirely on screen or over the phone, it added.

CreditMatch has been installed on trader desks in Asia, North America and Europe at a number of banks including Barclays Capital, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan Chase, Lehman Brothers, Merrill Lynch and Société Générale. The first electronic trade was completed between Lehman Brothers and Barclays Capital’s London desks on a European insurance name, GFI said.

GFI said the platform will be extended to other sectors according to customer demand.

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