Thomson TradeWeb says the Royal Bank of Scotland has become the latest dealer in Euro and Dollar Interest Rate Swaps to join its global online network.
The TradeWeb Euro Interest Rate Swaps marketplace was launched in March 2005, and has since seen continued growth in volumes, number of trades and client acquisition. Currently over 100 buy-side institutions participate on the Euro product.
US Dollar swaps went live in September 2005, becoming the first integrated platform in this market to offer electronic multi-dealer auctions with automatic ISDA-compliant posttrade processing. Tradeweb says more market makers are set to join TradeWeb IRS, both in Europe and the US, in the coming months.
“TradeWeb continues to attract the best liquidity providers in the global Interest Rate Derivatives markets,” says Lee Olesky, President of Thomson TradeWeb. “RBS is a leading swaps dealer and we are delighted that they have come on board. RBS will strengthen and deepen the liquidity pool available to our customers and confirms TradeWeb as the multiple dealer-to-customer electronic trading platform of choice for Interest Rate Swaps”.
Michelle Neal, Head of Debt Markets eCommerce at The Royal Bank of Scotland, adds that joining TradeWeb’s Euro and Dollar Interest Rate Platforms “reinforces our leadership positions in these markets and leverages our expertise to create substantial value for our global institutional clients. TradeWeb’s successful electronic trading platform for Euro and Dollar Interest Rate Swaps provides us with the functionality to best serve the needs of our diverse customer base.”