- Innovative hosted solution for quickly on-boarding firms to new swap market structures
- Execution capabilities for new breed of centrally cleared OTC derivatives
Sky Road, a leading cloud-based solutions provider to the financial services industry since 2005, today announced the launch of Swap Trader, a hosted solution blending execution, order management, and portfolio management for fixed income products. Swap Trader is the first application announced on Motion, Sky Road’s groundbreaking platform for the creation of highly focused trading apps.
With the evolution of the swaps market structure in response to regulatory mandates for central clearing of OTC derivatives, market participants require a solution that can quickly on-board their trading desks to new execution venues in a cost effective manner. Designed with input from traders in rates-based strategies, Swap Trader combines an intuitive user interface with a customizable and flexible solution enabling traders to confidently risk manage their portfolios and serves as a hub for centralization and reporting of trading activity both internally and externally.
“Sky Road’s Swap Trader is a solution at the forefront of a rapidly changing industry,” comments Christopher Rodriguez, Chief Sales and Corporate Development Officer, Eris Exchange, a US futures exchange offering flexible interest swap futures. “Traders are adjusting to new execution venues and need better access to the analytics and data they require to make the right trading decisions. Swap Trader is the kind of platform traders need in the new market environment.”
Swap Trader provides a central repository for trades, intraday P&L views, risk views, and connectivity to execution venues, prime brokers and fund administrators:
– Intraday P&L views using both real-time market data feeds for listed products and FINCAD valuation models
– Intraday spot risk views, numerous risk shocks and scenarios
– Access to curves by utilizing standard discount and OIS curve definitions, curve construction routines and market data via third party data vendors and execution venues
– Execution capabilities for new breed of centrally cleared OTC derivatives via direct central limit order book access, request for quote, and block/off exchange trades
– Full integration with leading market data providers and analytics providers for real-time pricing, curve inputs, and end-of-day prices
John Borse, ceo of Sky Road, says, “We’re facing a pivotal shift in the swaps market, as the implementation of central clearing and more stringent regulatory oversight create new pressures on trading and margins. We truly believe that Swap Trader is a game changer and will enable traders to quickly and cost effectively leverage new opportunities in the market. Sky Road is committed to utilizing our innovative Motion platform to develop new and highly focused applications for trading.”
