New interest rate swap platforms launched
Icap and BGC Partners this week each announced the launch of electronic interest rate swap trading platforms after years of anticipation. BGC launched its service on Wednesday and Icap is due to switch on its platform on Monday.
"I have a folder full of articles announcing the imminent arrival of fully electronic IRS broking going back to the late 1990s. As of yesterday it is finally here," said Jeffrey Hogan, BGCs head of business development.
The advancement in broking technology has come not before time, said traders
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