BGC Partners has unveiled its first fully electronic Australian Dollar interest rate swap (IRS) trade. The transaction will use the Volume Match tool, which is integrated into BGC’s proprietary platform, BGC Trader.
The tool offers auction-style electronic trading across various asset classes, including credit default swaps, foreign exchange options and interest rate swaps, to the customers at a pre-set time of the day. BGC has also started its first fully electronic Australian Bills/Libor basis trade.
Click here for the release from Business Wire.