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Barclays Capital introduce e-trading in single name CDS

11 February 2011  |  6120 views  |  0 Source: Barclays Capital

Barclays Capital today announced the launch of electronic trading of Credit Default Swaps (CDS) on BARX, the firm's electronic trading platform, on the Bloomberg Professional® service. The firm will make markets on the major US and European credit indices and over 70 active single-name CDS across several sectors.

With the introduction of this new functionality, clients can now easily trade a broad selection of the most liquid credit instruments in the market electronically through a few simple clicks on BARX on Bloomberg. By typing BXCD on Bloomberg, clients may access execution pages for the following sectors: Financials, Autos, Technology Media & Telecom (TMT), Consumer Products, Materials, Utilities, Oil & Gas and Sovereigns.

"This initiative underscores our focus on providing clients effective tools to navigate rapidly evolving markets and demonstrates our continued commitment to increasing transparency and liquidity across asset classes," said Jason Quinn, Co-Head of US High Grade Trading at Barclays Capital.

"Regulation is changing the credit landscape and the market continues to shift towards a model increasingly rooted in electronic trading. We embrace this change and believe it is essential to continue developing products and services that help accelerate this market evolution," added Mike Cattano, Head of European High Grade Trading at Barclays Capital.

"Bloomberg is pleased to work with Barclays Capital in our ongoing efforts to advance electronic trading of the fixed income markets," commented Ben MacDonald, Global Head of Fixed Income at Bloomberg.

Barclays Capital has a legacy of innovation in electronic trading on Bloomberg in products such as emerging markets CDS and interest rate swaps across major currencies including GBP, USD, EUR and Yen. The firm has a leading market share in electronic trading of US Treasuries, Agencies, Gilts and EGBs on Bloomberg which is a further testament to the firm's excellence in online trading.

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