Swaps

  • Swaps

    Fully regulated electronic interest rate swaps trading

MTS leverages its existing technology to provide interest rate swaps trading for the dealer-to-client market with MTS Swaps.

MTS Swaps is a new electronic market and market model for interest rate swaps trading, led by a select group of European banks. The fully-regulated multilateral trading facility (MTF) enables buy-side clients to trade and clear swaps via their chosen sponsor bank or banks, and supports the full trade lifecycle from transparent pre-trade price discovery and execution to post-trade reporting and connectivity to clearing.

Trading via a sponsor bank gives buy-side clients access to the best prices available in our multi-dealer environment whilst enabling them to maintain their anonymity and relationship with their chosen sponsors. All trading and relationship management is carried out through the sponsor bank thereby simplifying operational processes, minimising counterparty risks and streamlining the clearing and settlement arrangements.

Benefits include:

  • Access to multi-dealer liquidity – indicative and executable streaming quotes
  • Leverage and maintain existing relationships with chosen sponsor banks
  • Compliance with forthcoming regulatory requirements
  • Choice of RFCQ and click-to-trade protocols
  • Transparent trading limits controlled by the sponsor bank
  • Access to the tools to assess best execution
  • Certainty of clearing following industry standardisation
  • Flexibility in number of quoting dealers receiving RFQs
  • Maintain their anonymity to dealers or reveal their name on an ad hoc basis
  • Centrally cleared and bilateral trades supported with clients
  • Straight through processing of trades to Markitwire
  • Trade with confidence in a regulated and orderly market