Barra, Prebon Yamane Beta Testing Posit-FRA, A Crossing Network For Forward Rate Agreements
PROPRIETARY EXECUTION
Barra, the analytics software vendor that partnered with ITG 11 years ago to develop the Posit crossing network for equities, is now working with Prebon Yamane to create Posit-FRA, the first crossing network for forward rate agreements.
A crossing network anonymously matches buyers and sellers through electronic trades. FRAs are the hedging vehicles that institutions use to hedge interest rate resets in their swap portfolios. Kamal Duggirala, president of Barra, says it decided to partner with
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