JP Morgan and Capula execute Sonia trade on Tradeweb

By Ross Lancaster
22 Oct 2020

JP Morgan and Capula have executed a Sonia swap against a Gilt future on Tradeweb, in what the trading venue provider says is the first electronic execution of such a trade for institutional investors.

The trade, called an invoice spread, is a simultaneous purchase and sale of a futures contract against a spot starting or forward starting interest rate swap. JP Morgan was the liquidity provider for the trade.

“The launch of Sonia invoice spread trading on our platform adds transparency and ...

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