EquiLend's Swaptimization goes live in US
10 December 2019 New York
Image: Shutterstock
EquiLend’s Swaptimization solution, which aims to automate the total return swaps (TRS) market, is now live in the US. EquiLend describes Swaptimization as utilising a proprietary matching algorithm to pair natural positions across market participants to facilitate bilateral, security-based TRS in an “efficient, centralised and scalable manner”. The web-based user interface aims to offer access to liquidity in a streamlined and efficient manner. According to EquiLend, it has several firms who have been participating in its Swaptimization working group since June, with upwards of 20 participants expected to onboard in the US in 2020. EquiLend was unable to offer the names of the active users of its solution or current transaction volumes. Paul Lynch, EquiLend’s global head of product, commented: “Our clients have solicited our ability to automate, streamline and standardise a workflow to allow their TRS traders to focus on revenue generation for their firms. “Swaptimization is a solution that provides technological efficiency to a marketplace that would greatly benefit from automation.” Swaptimization is set to be available in Europe and Asia in 2020, pending regulatory approvals.
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