RBS launches USD swap trading in Asia via Bloomberg
27 June 2006 | 1669 views | 0
Source: Royal Bank of Scotland
The Royal Bank of Scotland (RBS) has launched USD swap trading during Asia business hours on Bloomberg, an important step towards providing a truly global electronic offering to clients for interest rate derivatives (IRD).
The first trade was completed in Hong Kong with an Asian-based counterparty.
Commenting on the new trading capability Michelle Neal, Head of Debt Markets eCommerce at RBS said:
"We have been trading USD swaps with a core group of Asian counterparties during European hours for several months now. The launch of this service in Asia not only provides the ability for us to service Asian clients during their local business hours, but also enables us to provide a global USD IRD offering virtually 24 hours a day.
"In the 24-hour period following the launch, we traded a number of swap deals with customers in all time zones. On the second business day of operating during Asian business hours, European customers, based on the continent, were trading with Asia to London open and the whole process was entirely seamless to clients."
RBS is a clear leader in USD IRD electronic liquidity, providing the greatest depth of product functionality during European, US and Asia-Pacific trading hours, including: USD short, medium and long-term interest rate swaps (IRS) custom dates, IMM dated IRS, Forward Rate Agreements and curve spread and butterflies.