Swapswire gears up for pilot testing program

Online derivatives trading to launch in Asia รป starting with Tokyo - this autumn.

SwapsWire, an initiative for online derivative trading, has announced details of its partnership with systems integrations specialists Syntegra in the lead up to the pilot testing phase of its product at the end of this month.

SwapsWire was formed by 23 shareholder banks last April. These shareholders, which include names such as Citigroup, HSBC, Goldman Sachs and Merrill Lynch, are collectively responsible for more than 80% of global over the counter OTC swaps business. The first phase is due to be tested soon by founder banks in London.

SwapsWire has been working with Syntegra since October last year in specifying and developing the technology components of the project. The system,...

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