Kalahari, a provider of real-time price discovery, analytics and publishing solutions, is delighted to announce that, using prices calculated through kACE, ING was the first to trade Euro Overnight Index Average (EONIA) Swaps.
ING is one of the eleven banks currently using the MTS system.
The MTS EONIA swap market—which offers electronic trading of all vanilla contracts from one week to 24 months in duration, along with forward and broken-date contracts—is expected to reduce costs for market participants. EONIA swaps have previously been a largely voice-driven market.
"ING Bank has been a customer of ours for a number of years." said Graham Mansfield, Managing Director at Kalahari. "kACE offers the bank fast, stable and transparent EONIA pricing, giving their traders complete confidence in the immediate execution of swap contracts. Used by many of the world's leading financial institutions, kACE configures curves to match the market and helps them to increase liquidity."
kACE is the industry's leading real-time price discovery and analytics solution designed for enterprise-wide use at broking firms, banks and other financial institutions and corporations. With flexibility and control as the driving design principles, kACE gives traders the tools and the freedom to innovate and concentrate on what they do best - calculate and effect trading opportunities.