This week NYSE Liffe, the European derivatives business of NYSE Euronext, started offering fixed income products in its award-winning wholesale trading service Bclear. The new contracts available through Bclear are Euribor futures, Short Sterling futures and Long Gilt futures.
The introduction of this service for fixed income products enables business exceeding a minimum volume threshold to be negotiated bilaterally and registered via Bclear, offering the benefits of a centrally cleared environment.
“NYSE Liffe’s Bclear has since start been a highly innovative service which is reaffirmed by this expansion that will support fixed income traders in dealing with the new regulations requiring a greater deal of trading to be cleared by a central counterparty, says Veronica Augustsson, CEO of Cinnober. “We are proud to be the system supplier behind Bclear, and think that this in a good way illustrates the flexibility of our TRADExpress technology.”
Bclear was launched in 2005, combining the benefits of doing business via an exchange – from clearing, processing and margining facilities to position netting – together with the aspects enjoyed in the over-the-counter (OTC) market, such as the ability to pre-negotiate business. Bclear offers contracts on equities, MSCI indices, and commodities, and now also on fixed income.