ICAP.com

i-Swap

i-Swap is ICAP's electronic trading platform for OTC derivatives, leading the electronic market in inter-dealer EUR Interest Rate Swaps trading.

Launched in Sept 2010 with continuous streaming support across over 100 EUR swap, spread, butterfly, futures cross and basis instruments.

i-Swap's hybrid model ensures leading liquidity, execution and transparency.

More than 40 of the world's leading Banks and Investment Banks utilising the service.

Key features being:

• Hybrid liquidity pool combining best of voice and electronic markets
• Certainty of execution ensured by pre-allocated credit allowing instant matching
• Open central limit order-book matching all orders according to the same priority rules
• Multi-legged implied matching of strategies and outright swaps with no chain limitation or legging risk
• Trade confirmation and STP via MarkitWire
• Open API supporting automated order, credit submission and Instant Risk

i-Swap's automated matching model and implied strategy trading functionality allows ICAP to enhance its electronic liquidity through improving prices by linking liquidity in underlying swaps to liquidity in strategy orders such as spreads, butterflies, spread-overs and futures crosses.

For further information please contact i-swap@icap.com.