The electronification of the swaps market has transformed execution capabilities, and in turn, the hedging, risk management and investment potential of asset managers and dealers.
Speaking with Trader TV, Angus McDiarmid and Robert Marchetti of Tradeweb take us through the electronification of a highly over-the-counter (OTC) market, traditionally negotiated by phone, a process described as ‘crazy’ in 2005, to the evolution of new trading protocols such as request for market (RFM) allowing clients to ask for a two-way price from a market maker, and the potential in 2025 to explore trading of swaptions, cross currency and interest rate swaps.
Driven by the prioritisation of data, liquidity, and automation, Tradeweb’s army of 400 technologists continue to evolve this landscape on behalf of traders.
