Swapstream to launch dealer-to-client platform

Swapstream to launch dealer-to-client platform

Swapstream, the e-trading platform for interest rate swaps, is launching a new dealer-to-client swaps trading platform aimed at professional traders and hedge funds.

Swapstream - which was bought out by the Chicago Mercantile Exchange (CME) last year - says its new platform, called sPro, is scheduled to be fully operational on 9 May 2007 and will run alongside its interdealer system, sDealer.

The 'thin-client' sPro platform will provide users with a variety of trading protocols from streaming prices to one- or two- way requests for streams, says Sawpstream, and will enable clients to post and work their own orders.

The system will also include a range of products from outright interest rate swaps to future cross swaps, including calendar spreads and butterflies, which can be traded as a package or a combination of various prices.

Stephane Rio, CEO of Swapstream, says: "SPro builds on the success of the inter-dealer platform sDealer, extending its unique ability to integrate the entire interest rate trading curve electronically and offer best execution to users."

Swapstream says it will also add the capability to handle dollar and sterling swaps - in addition to existing euro and Swiss franc offerings - to both its the sPro and sDealer platforms.

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