Bloomberg Forms Venture with Six Dealers to Back Interest-Rate Swaps Trading Platform
At 01 Mar 2006 13:10:03 in ET-Multidealer Systems, Electronic Trading
Bloomberg’s move to establish with six major banks a new company to offer multi-bank electronic in interest-rate swaps builds on the company’s existing offerings in this market segment and pitches it head-to-head with Thomson Financial’s TradeWeb subsidiary. By offering participating dealers equity ownership in the new platform operator, Bloomberg is seeking the replicate the approach used by others, including TradeWeb and ICAP’s Brokertec, to attract liquidity to the system.
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