Barx proves catalyst for electronic swaps, says Icap’s Spencer
The UK broker has traded short-dated Eonia swaps via its i-swap platform for the past two months. “In November, we transacted a total of €18.25 billion of electronic business with an average maturity of 4.5 months,” said Spencer.
“We believe we have already materially overtaken the smaller platforms,” Spencer added. These platforms include ATFox, E-Mid and Swapstream.
Spencer plans to offer euro-denominated swaps with maturities out to 50 years in early 2005.
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