Peter Fredriksson, CEO and co-founder of Baymarkets, said, âElectronic and hybrid trading is the clear evolution of the market. With the new global regulatory climate as a driver, our âSEF in a boxâ provides brokers with a low-cost route to electronic trading, settlement and clearing services. We are extremely pleased Cleartrade Exchange has agreed to offer this white-labelled package to its clients.â
The new Baymarketsâ technology will be sold and marketed by the Cleartrade Exchange (CLTX), based in Singapore and London.
The package will offer full client-branded front-end functionality, price discovery, trade execution, recaps, settlement, clearing and revaluations and enables clearing and settlement through the most appropriate route. The package has the necessary toolkit for complex combination spreads, asset chain trading recaps and data distribution.
Richard Baker, CEO of Cleartrade Exchange (CLTX), added, âThis white-label version of the Baymarkets technology is an exciting offer for the market where brokers want best-in-class hybrid trading technology and a partner who can help on the regulatory journey. It can be used by boutique broker firms with several clients or international brokerage houses with multiple clients. It can be configured as a stand-alone private market operated by brokers or hedge funds, with the added benefit of being pre-integrated with the CLTX platform. The ease of set-up and fast deployment are valuable parts of the phased approach to embracing the new regulatory frameworks which are rapidly affecting the trading of OTC derivatives.â