Dealer algos strike back in swaps market showdown

Auto-quoting starting to take root as incumbents try to keep pace with Citadel

risk-0316-rocket-trader-web-shutterstock-315325730-converted
Keeping up: banks are fighting to win back market share

Size and speed are often thought to be mutually exclusive – it has certainly seemed that way in the US dollar swaps market, where new entrant Citadel Securities arrived in late 2014 with nothing but a sharp algorithm and tight prices, and proceeded to wrest market share from its big, ponderous rivals. On occasions, banks were so slow to respond to quote requests that clients did not even wait to see the price.

Now, some incumbent dealers are trying to add zip to their own swaps business, by

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here