List, a leading provider of electronic trading solutions, today announced it has integrated its multi-asset platform FastTrade with i-Swap, the new electronic trading platform for Euro interest rate swaps (IRS), from premier interdealer broker ICAP.
ICAP launched i-Swap in September. The platform provides a single liquidity pool in a wide range of IRS instruments with market making support. i-Swap enhances electronic liquidity improving prices by linking liquidity in underlying swaps to liquidity in strategy orders such as spreads, butterflies, spread-overs and futures crosses. i-Swap captures transactions electronically allowing the most liquid and standardised products to be automated while the less liquid products remain mostly voice OTC.
Stefano Falciani, managing director List UK, comments: “We have responded quickly to demand from our clients for access to i-Swap. In today’s post financial crisis era the financial community has to find ways to lower operational and systemic risk, and by trading these instruments electronically they are able to lower costs and increase transparency at the same time.”
FastTrade currently connects to more than 50 electronic markets for equities, bonds, futures, options and repos. Its single interface integrates with external electronic markets, brokers, information sources and internal markets. Its functionality includes market making support, algorithmic trading and risk management. In addition, FastTrade provides all the components needed for the creation of external and internal electronic markets.
