JPMorgan Joins Bloomberg Multi-Dealer Interest Rate Swaps Platform
London (ots/PRNewswire)
JPMorgan (NYSE:JPM) and Bloomberg announced today that JPMorgan has joined Bloomberg SwapTrader, the live multi-dealer trading platform for euro denominated Interest Rate Swaps. This platform offers end-user clients the ability to trade interest rate swaps on-line through a multi-dealer trading system featuring the 'Request-For-Quote' (RFQ) trading protocol. The addition of JPMorgan, a leading player in the derivatives market, as an active dealer on the platform will enhance the liquidity available to clients accessing the swaps market through Bloomberg SwapTrader. Bloomberg SwapTrader is accessible via <BBTI> GO on the Bloomberg Professional(R) service.
Fawzi Kyriakos-Saad, head of European credit & rate markets and global emerging markets at JPMorgan, said: "The interest rate swaps market is the world's most successful OTC derivatives market. We recognise that electronic execution and processing are important to this market and we are pleased to be working with Bloomberg on their initiative to satisfy the needs of our broad client base."
Russel Levi of Bloomberg stated: "Through Bloomberg SwapTrader, JPMorgan's clients will enjoy an unparalleled depth of liquidity and market experience. Consistent with our commitment to add value for customers, Bloomberg SwapTrader is free of charge to all Bloomberg users."
"Going forward, Bloomberg is committed to promoting electronic trading by working with JPMorgan and other dealers to create a new governance structure for enhanced multi-dealer trading of interest rate swaps on Bloomberg," Levi continued.
The Bloomberg multi-dealer platform provides ease of execution and transparency of prices, enabling end users to get pricing quotes from up to three banks and then execute seamlessly at the best price shown. This Request-For-Quote model enables the provision of competitive, tailor-made prices to JPMorgan's clients.
In addition to providing electronic trade execution, the Bloomberg multi-dealer platform makes trade details readily accessible, supporting integration into a client's risk management and processing systems. Combined with advanced market data, news and analytics, Bloomberg SwapTrader is a powerful tool for participants in the global swaps market.
JPMorgan
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of US$1.2 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. has its corporate headquarters in New York and its US retail financial services and commercial banking headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com.
Bloomberg
Bloomberg is the leading global provider of data, news and analytics. The BLOOMBERG PROFESSIONAL(R) service and Bloomberg's media services provide real-time and archived financial and market data, pricing, trading, news and communications tools in a single, integrated package to corporations, news organisations, financial and legal professionals and individuals around the world. Bloomberg's media services include BLOOMBERG NEWS(R) , the global news service that includes more than 1,600 journalists in 127 bureaus worldwide; BLOOMBERG TELEVISION(R), the 24-hour business and financial network produced and distributed worldwide on 10 separate channels in seven languages; and BLOOMBERG RADIO(SM), which provides up-to-the-minute news on XM, Sirius and WorldSpace satellite radio around the world and on WBBR 1130AM in New York. In addition, BLOOMBERG PRESS(R) publishes books for investment professionals. For more information please visit http://www.bloomberg.com.
Press contacts
JPMorgan:
Sarah Oppler
+44-(0)20-7325-3644
sarah.oppler@jpmorgan.com
Bloomberg:
Judith Czelusniak
+1-212-617-4273
bloomberg@bloomberg.netContact:
Press contacts, JPMorgan: Sarah Oppler, +44-(0)20-7325-3644,
sarah.oppler@jpmorgan.com, Bloomberg:, Judith Czelusniak,
+1-212-617-4273, bloomberg@bloomberg.net