Prebon Yamane joins SwapsWire Network

Prebon Yamane joins SwapsWire Network

Institutional brokerage Prebon Yamane is joining the SwapsWire network to offer straight-through processing of deals to interest rate derivative clients.

SwapsWire is a consortium of 23 derivatives dealers and allows participants to exchange transaction data for interest rate swaps over an electronic network.

Swap deals arranged by Prebon will be legally confirmed between banks connected to the network.

Patrick Keenan, director, Prebon Yamane, says: "Our clients want the most secure, accurate, and efficient operational framework and by teaming up with SwapsWire we achieve that objective."

The system is being used by 14 banks and brokers in Europe and the US and handles interest rate swaps in eight currencies including sterling, euros, Japanese yen and US dollars.

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