GFI use the new capability within the GlobalVision Trading System for basis swaps to cover the G10 currencies against three-month US Dollar LIBOR. The company also has further plans to extend this to similar instruments such as inter basis swaps.
âThe market requires efficient price dissemination and execution, transparency and integrity,â said Robert Bou-Simon, GFIâs head of European interest rate derivatives. âTrayport delivers these capabilities with GlobalVision.â
GlobalVision Trading System for basis swaps promotes transparency and liquidity by showing traders all prices in the market along with a complete trade history. It offers a hybrid broking model in allowing traders to transact directly on their screens or with a broker via voice. The platformâs ability to conduct basis swaps offers new opportunities to trade by automatically showing the market implied prices for duration weighted spreads between tenors for each currency pair.
âThe GlobalVision Trading System allows the level of broker efficiency to be increased and errors reduced by automating price discovery, routine trade execution and post-trade activities,â said Dan Smith, Head of Broker Systems Business at Trayport. âThis allows brokers to focus on the more important areas of building relationships and high-value trade execution.â