European banks use Wematch for first EUREX/LCH Basis swap trade

Wematch has hosted a EUREX/LCH Basis swap trade on its electronic trading platform, carried out between Societe Generale and Landesbank Baden-Württemberg (LBBW) and negotiated on a purely electronic basis, making this trade the first of its kind to be completed in the derivatives market.

The EUREX/LCH Basis swap tool helps traders manage clearinghouse risk, and a company statement makes note that this translates to complete control over orders and confidentiality and at a significantly lower cost than voice-based or hybrid trading pathways.

There are 18 banks on the platform, and other products processed include 3mth/6mth Basis Curve and Flies, EONIA/EURIBOR Basis, and Gadget Swaps. Thilo Rossberg, head of FiCC Trading at LBBW, said in a statement: “At LBBW we are constantly looking towards technology solutions to find innovative and cost-effective means to execute our trading and risk reduction strategies in the marketplace.”

Read the full release

Related Posts

Previous Post
Open market operations, QE or the discount window, it’s still large-scale Fed repo liquidity provision
Next Post
ESMA updates CSDR Q&A

Fill out this field
Fill out this field
Please enter a valid email address.


Reset password

Create an account