Icap Debuts i-Swap for Price Delivery
CONNECTIVITY
LONDON--Interdealer broker Icap is rolling out a free service, i-Swap, to automate interest-rate swaps price delivery and trade confirmations for its top clients.
The Europe-only service falls short of online execution capabilities, but if users want transaction capabilities, the broker can supply them.
The system, developed with Australian technology vendor Computershare, has been in the works since April 2001. Icap has been using the system internally for electronic booking of trades into the
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