TeraExchange Strikes Deal with Pair of European IDBs
OTCex is a specialist in single stock options and indexes, while RP Martin focuses on fixed income cash flow and related services with additional locations in Amsterdam, Dubai, Stockholm, and Johannesburg. As a result of the agreements, regulated access to the US swaps market is assured for over 100 banks and international bank affiliate clients of the IDBs looking to trade in rates, credit, equity, and currency contracts.
The SEF is set to further pursue the strategy with other regional and specialized IDBs, and is currently in detailed discussions with at least six other similar interdealer brokers across Europe and Asia.
“TeraExchange offers a readily accessible, multi-asset, flexible marketplace providing trading protocols similar to our existing trading protocols. It is a straightforward transition for our business, providing a cost-efficient and speedy alternative, but most importantly this agreement gives our dealer clients peace of mind on the regulatory front,” said Ian Spittlehouse, directeur administrative and manager of OTCex in London.
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