Bloomberg SEF, Goldman Execute First Electronic Market-Agreed Coupon Swap
Bloomberg says the new environment has increased need for standardized and fungible swaps with pre-set terms, including start and end dates, coupons and maturities. The addition will help improve liquidity for those clients with line-item constraints, and will improve the ability of buy-side participants to engage in portfolio compression.
“We are pleased to work with Bloomberg and play a role in the ongoing evolution of the market structure for interest rate products. Goldman Sachs values its role as a market maker in MAC swaps, as well as other interest rate swaps that fit the specific needs of our customers," says Kostas Pantazopoulos, Goldman's global head of interest rate products.
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