GFI Group has launched RatesMatch, a new electronic trading system designed for hybrid execution of cleared interest rate swaps. RatesMatch is provided by Christopher Street Capital, a division of GFI Brokers.
In line with GFI’s hybrid model, RatesMatch gives clients a choice of trading fully electronically on the platform or working through their voice broker in the traditional way or utilising a combination of the two.
RatesMatch helps traders with price discovery in an anonymous hybrid trading environment on an electronic platform. It combines the flexibility of over-the-counter trading with the risk mitigation of clearing and improved risk management via straight-through processing, the firm claims.
Mickey Gooch, chairman and CEO of GFI Group says: “The interest rates swaps market has been of interest to us for a long time. We have taken our time to enter it as we wanted to be fully prepared to conform to the new regulatory and market requirements. We now have everything in place from technology to experienced brokers to offer a first rate service.”
The new electronic screen will trade plain vanilla spot swaps from two-to-30 years in maturity on both “all-in” interest rate swaps and spread over US Treasuries as well as spreads and butterflies for various periods. GFI offers its clients the choice to clear via a range of clearing houses.
RatesMatch is available through a standard web browser, Excel links or through a FIX API that allows clients to connect their front, middle and back office systems directly to the trading platform.