13 December 2017
visit www.avoka.com

Prebon Yamane launches online matching for USD forward rate agreements

15 July 2003  |  3813 views  |  0 Prebon Yamane launches online matching for USD forward rate agreements

Institutional brokerage Prebon Yamane has launched 'py match' for US dollars (USD), an online system that enables automated matching of floating rate gaps in forward rate agreement (FRA) positions on a global basis.

Prebon Yamane says the system offers interest rate swap (IRS) and FRA traders greater efficiency in hedging floating rate exposures at mid-point prices, helping to minimise the risk of short term volatility in interest rates.

Patrick Keenan, director, Prebon Yamane Group, says: "The success of py match over the past year in Australian, Hong Kong and Singapore dollar and Korean won currency versions has shown the value and appeal of this system."

As with the other currency versions, Py match USD has been developed to help users to manage mis-matched exposures. The price curve will be based on the daily Libor fixings. The curve will then be published on the py match Web site just prior to a matching run.

Customers can input orders directly via the py match Web site or upload orders through a spreadsheet. Authorised brokers will be able to enter orders on behalf of participating customers.

Orders will be automatically matched based on the date and size of counterparty orders. The prices at which these orders are matched will be based on the price curve published for the particular matching session. Successful matches can be viewed online.

Users participating in the matching session will receive a customised report containing all trade confirmations and billing information.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.aciworldwide.comvisit www.response.ncr.com

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
12163 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
9352 views comments | 16 tweets | 22 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
7969 views comments | 17 tweets | 36 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7346 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7189 views comments | 20 tweets | 11 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job