Compliance

11:40 AM
Connect Directly
Facebook
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%

Bloomberg Launches Trading Platform For Derivatives Compliance

The platform will help investors comply with the Dodd-Frank Act requiring companies to trade credit-default swaps and other derivatives through swap execution facilities.

Bloomberg's Fixed Income Trading is launching a new trading platform to help institutional investors with over-the-counter (OTC) derivatives compliance.

The trading platform, ALLQ Derivatives, allows buy-side investors to review indicative prices and execute directly with dealers on the Bloomberg Professional service. It will help investors comply with the Dodd-Frank Act requiring companies to trade credit-default swaps (CDS) and other derivatives through swap execution facilities, Bloomberg said.

Bloomberg said the AllQ platform will provide a full view of dealer liquidity available in the market and will provide multi-currency details on interest rate swaps (IRS) and CDS.

Dealers participating on AllQ IRS include Bank of America Merrill Lynch, Barclays Capital, BNP Paribas, Citigroup, COMMERZBANK and Credit Suisse. Participating in the CDS Index markets include Goldman Sachs, Nomura, The Royal Bank of Scotland plc and UBS.

"Bloomberg is the largest independent trading platform for OTC derivatives and we have been actively working with regulators to develop the mandatory clearing and post-trading reporting requirements," said Ben Macdonald, global head of Bloomberg's Fixed-Income business.

"The challenge now is to get the market ready, when we don't know exactly what the regulations will entail. The development of the ALLQ Derivatives platform is a crucial step toward SEF-style trading and the support we are getting in the marketplace is strong," he said. Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio

Comment  | 
Print  | 
More Insights
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - July 2014
In addition to regular audits, the SEC will start to scrutinize the cyber-security preparedness of market participants.
Video
Stressed Out by Compliance, Reputational Damage & Fines?
Stressed Out by Compliance, Reputational Damage & Fines?
Financial services executives are living in a "regulatory pressure cooker." Here's how executives are preparing for the new compliance requirements.