Interactive Data will provide monitoring and support of the matching engine and network architecture as well as exchange connectivity for the trueEX interest rate swaps (IRS) exchange.
trueEX, the first electronic IRS exchange approved by the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM), is expected to go live early this year.
Interactive Data will provide connectivity to exchanges such as the CME and the ICE via the 7ticks network for post-trade execution clearing solutions. Participants on the trueEX market will be able to access financial exchange matching engines from anywhere on the 7ticks global network, which provides direct market access to more than 50 global markets.
We provide trueEX and its market participants with managed services designed to help address key issues related to the new swaps trading environment, helping to facilitate market participants with liquidity, fast execution and clearing, says Emmanuel Doe, president of the Trading Solutions Group for Interactive Data.
trueEX CEO Sunil Hirani adds: Our clients and market makers look to us to help them meet their regulatory reporting, execution, and clearing requirements through our electronic platforms, as well as provide them with a state-of-the-art facility with all the benefits of security, reliability and redundancy that Interactive Data provides.
(CG)