trueEX Launches First Platform for Trading and Novation of Non-Cleared Derivatives

November 22, 2016, New York; trueEX has launched the first execution venue for real-time execution, processing and novation of non-cleared interest rate swaps. By streamlining the workflow, trueEX is defraying much of the significant complexity and operational burdens arising from mandatory margining of non-cleared swaps, which has already been implemented in the U.S., Canada and Japan and...

trueEX - November 22, 2016

trueEX SEF Expands in LatAm Swaps

Start-up swap execution facility trueEX has become the first regulated platform to execute dealer-to-client Brazilian Real interest rate swaps, reflecting growing interest among buyside participants to trade over regulated platforms even in products that are not yet covered by the Dodd-Frank trading mandate.

The first trades, which took place last week, follow the launch of Mexican peso...

IFR - October 11, 2016

BNP Paribas Joins trueEX SEF

Derivatives clients of the French banking giant will be getting access to direct clearing and other post-trade services. French banking giant BNP Paribas has joined the trueEX swap execution facility (SEF) offering its derivatives clients the ability to leverage direct clearing, broad support of global currencies, and low-cost execution of interest rate swaps via the trueFIX application...

Financial Technologies Forum - September 26, 2016

trueEX Expands Streaming Liquidity for 'No-Touch' Swaps Trading

New York, September 13, 2016 – trueEX, the innovative global interest rate swap trading platform, is adding BNP Paribas to its pool of 21 global derivatives dealers which also includes JPMorgan and RBS that collaborated on the launch of the trueFIX API platform.

Through the collaboration, users will have access to the global derivatives dealers’ market making capabilities, while...

trueEX - September 13, 2016

trueEX Introduces Execution of Brazilian Real Swaps Cleared at CME Group

New York, August 16, 2016 - trueEX, the innovative global interest rate swap trading platform, has built a solution to provide execution for Brazilian Real (BRL) interest rate swaps cleared at CME Group. The launch follows CME Group’s Q4 2015 launch of BRL interest rate swaps clearing, which has cleared more than 250 billion Real in notional from 25 market participants.

Through the...

trueEX - August 16, 2016

Former ICE Executive Zohar Hod to lead truePTS Derivatives Push

New York, NY, June 8, 2016 - truePTS, the independent derivatives processing business, has appointed Zohar Hod as its Chief Executive Officer. Hod, a former senior executive at Intercontinental Exchange, joins the fast-growing service at a time of heightened concern in the industry about inflexible technologies and the high costs of legacy post-trade processing industry...

trueEX - June 8, 2016

trueEX Expands to Support London Business Hours

London, April 5, 2016 - trueEX, the fastest growing interest rate swap trading platform, now supports market activity during London business hours due to rapidly growing client demands in both the US and across Europe.

This transatlantic expansion enables European clients to access the same range of currencies, products, and features as those in North America. Platform connectivity is...

trueEX - April 5, 2016

truePTS Advances Regulatory Reporting for Derivatives

New York, March 16, 2016; truePTS has entered into an agreement with CME Group Inc. (NYSE: CME) to integrate truePTS processing efficiencies with CME Group’s preferred global network of regulated trade repositories (TRs). This agreement makes truePTS the first independent derivatives post-trade service to provide a single trade reporting application program interface (API) to meet obligations...

trueEX - March 16, 2016

Swap Reporting Costs Drive Industry Shift

The derivatives industry has begun to step out of the compliance phase that has dominated for the last five years post-Dodd-Frank, and into a consolidation and inefficiency-reduction phase now that the costs of regulation are playing themselves out.

Market participants lobbied heavily against the possibility of different frameworks for the reporting of derivatives transactions across...

IFR - March 16, 2016

trueEX Completes First Electronic Mexican Peso Swap Trades for Institutional Investors

trueEX, the fastest growing swap execution facility (SEF), has created another industry innovation with the execution of the first dealer to client Mexican peso (MXN) interest rate swaps trades on its award-winning platform. Societe Generale Corporate and Investment Bank (SGCIB), and undisclosed institutional investors completed the transactions late in December and January; the first buy-side...

trueEX - January 28, 2016

Sef of the year: trueEx

Start-up Sef enjoys a breakthrough year by offering unique post-trade tools to the buy side. "The interest rate swaps markets are near impossible to break into; they're like a fortress. Our strategy was to offer things the two incumbent trading venues, which have been in the rates market for two decades, wouldn't," says Sunil Hirani, co-founder and chief executive of trueEx, the New York-based... - January 27, 2016

CFTC Grants Registration to 18 Swap Execution Facilities

The U.S. Commodity Futures Trading Commission (CFTC) today issued Orders granting registration to 18 swap execution facilities (SEFs). The SEFs issued a Registration Order today previously were operating under temporary registration status. SEFs are trading facilities that operate under CFTC’s regulatory oversight for trading and processing swaps. SEFs were authorized to be created by the...

CFTC - January 22, 2016