23 July 2016
Find out more

Interactive Data to provide managed services to new IRS exchange trueEX

06 February 2013  |  1356 views  |  0 Source: Interactive Data

Interactive Data Corporation, a leading global provider of managed ultra-low latency IT and market data feed services to facilitate electronic trading, today announced an agreement to provide a full suite of services to trueEX, LLC, the first interest rate swaps exchange approved by the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM).

Interactive Data is providing trueEX with low-latency hosted services through its 7ticks platform. These services will include monitoring and support for the trueEX matching engine and network architecture, along with connectivity to leading global exchanges such as the CME and the ICE via the 7ticks network for post trade execution clearing solutions. trueEX market participants will be enabled to access financial exchange matching engines from anywhere on the 7ticks global network.

"We provide trueEX and its market participants with managed services designed to help address key issues related to the new swaps trading environment, helping to facilitate market participants with liquidity, fast execution and clearing," said Emmanuel Doe, president, Trading Solutions Group for Interactive Data.

Interest rate swaps were previously traded mainly by phone and lacked regulatory oversight. As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, OTC derivatives trading is now mandated to be electronically executed and cleared in order to provide greater market transparency and efficiency while also reducing systematic risk. In response to this mandate, trueEX founded the first DCM that will serve the $300 trillion global interest rate swaps market when it begins operations in early 2013. This electronic exchange has been designed to meet the needs of market makers, asset managers, hedge funds and other buy-side firms.

"Our clients and market makers look to us to help them meet their regulatory reporting, execution, and clearing requirements through our electronic platforms, as well as provide them with a state-of-the-art facility with all the benefits of security, reliability and redundancy that Interactive Data provides," said trueEX Chief Executive Officer Sunil Hirani.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

Interactive Data

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comVisit www.abe-eba.euFind out more

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
7667 views 13 comments | 32 tweets | 36 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
7630 views 0 | 14 tweets | 8 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7466 views comments | 22 tweets | 28 linkedin
Brexit-scarred London fintech startups enquire about moving to BerlinBrexit-scarred London fintech startups enq...
7318 views comments | 16 tweets | 16 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
7307 views 3 | 19 tweets | 6 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job