Electronic FX swaps execution advances on 360t
Sun platform could help banks auto-hedge and develop algo execution for the instruments
Dealers say electronic interdealer trading of foreign exchange swaps on 360t has steadily increased since the service launched two months ago, with market-makers now seeing regular trading activity.
In September, the 360t Swaps User Network (Sun) saw its debut trade conducted between Deutsche Bank and ING, marking the first time that two banks have been able to trade FX swaps via an application programming interface (API) and match at the market mid-point.
Deutsche Bank and Commerzbank are
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