JPMorgan joins Bloomberg's SwapTrader platform

Source: JPMorgan

JPMorgan (NYSE:JPM) and Bloomberg announced today that JPMorgan has joined Bloomberg SwapTrader, the live multi-dealer trading platform for euro denominated Interest Rate Swaps.

This platform offers end-user clients the ability to trade interest rate swaps on-line through a multi-dealer trading system featuring the "Request-For-Quote" (RFQ) trading protocol. The addition of JPMorgan, a leading player in the derivatives market, as an active dealer on the platform will enhance the liquidity available to clients accessing the swaps market through Bloomberg SwapTrader. Bloomberg SwapTrader is accessible via BBTI GO on the Bloomberg Professional service.

Fawzi Kyriakos-Saad, head of European credit and rate markets and global emerging markets at JPMorgan, said: "The interest rate swaps market is the world's most successful OTC derivatives market. We recognise that electronic execution and processing are important to this market and we are pleased to be working with Bloomberg on their initiative to satisfy the needs of our broad client base."

Russel Levi of Bloomberg stated: "Through Bloomberg SwapTrader, JPMorgan's clients will enjoy an unparalleled depth of liquidity and market experience. Consistent with our commitment to add value for customers, Bloomberg SwapTrader is free of charge to all Bloomberg users."

"Going forward, Bloomberg is committed to promoting electronic trading by working with JPMorgan and other dealers to create a new governance structure for enhanced multi-dealer trading of interest rate swaps on Bloomberg," Levi continued.

The Bloomberg multi-dealer platform provides ease of execution and transparency of prices, enabling end users to get pricing quotes from up to three banks and then execute seamlessly at the best price shown. This Request-For-Quote model enables the provision of competitive, tailor-made prices to JPMorgan's clients.

In addition to providing electronic trade execution, the Bloomberg multi-dealer platform makes trade details readily accessible, supporting integration into a client's risk management and processing systems. Combined with advanced market data, news and analytics, Bloomberg SwapTrader is a powerful tool for participants in the global swaps market.

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