Swapstream, the only multilateral electronic trading platform for medium and long term interest rate swaps (IRS), announced today the addition of Danske Bank, DZ Bank, Nomura and UBM as new users, who join a growing list of banks and brokers already on the platform.
Swapstream is the neutral provider of the only multilateral platform that facilitates trading for all IRS market participants. The company currently offers the greatest liquidity (€800 million on bid and offer) and most competitive and tightest spreads in the electronic IRS industry.
"We are honoured to be chosen by Danske Bank, DZ Bank, Nomura and UBM, four important players in the financial industry located in four different financial centres," said Stephane Rio, CEO at Swapstream. "The continual addition of users to the Swapstream platform underscores our unerring commitment to our client's needs. By providing our clients with the most innovative technology, we are able to offer the tightest spreads and most extensive and competitive trade capabilities with exceptional speed and efficiency at a very low cost."
"The Swapstream platform provides us with a very innovative trade technology in the swaps market, replicating perfectly the behaviour of the market while increasing efficiencies," stated Cyril Brudy-Castellan, head of IRS in Europe at Nomura International. "By utilising the company's extensive capabilities with their low cost structure, which provides a very low fixed fee per transaction, we are able to reduce our swap execution cost without changing our trading processes."
"We needed access to futures crossing liquidity in an environment that offered functionality we could use immediately," according to Jacques Skovgaard, head of EUR and CHF IRS trading at Danske Bank. "We chose Swapstream for their IRS electronic trading and added capabilities such as futures crossing and €800 million on bid and offer available in liquidity."