Trayport has announced its GlobalVision Trading System now has the
capability to trade cross-currency basis swaps. This is the first time that an electronic trading platform
has been developed with the capability to perform basis swaps for the broker market. The new
functionality was developed for leading broker GFI Group Inc. and is also available to all inter-dealer
brokers.


GFI use the new capability within the GlobalVision Trading System for basis swaps to cover the G10
currencies against three-month US Dollar LIBOR. The company also has further plans to extend this to
similar instruments such as inter basis swaps.


“The market requires efficient price dissemination and execution, transparency and integrity,” said
Robert Bou-Simon, GFI’s head of European interest rate derivatives. “Trayport delivers these
capabilities with GlobalVision.”


GlobalVision Trading System for basis swaps promotes transparency and liquidity by showing traders
all prices in the market along with a complete trade history. It offers a hybrid broking model in allowing
traders to transact directly on their screens or with a broker via voice. The platform’s ability to conduct
basis swaps offers new opportunities to trade by automatically showing the market implied prices for
duration weighted spreads between tenors for each currency pair.


“The GlobalVision Trading System allows the level of broker efficiency to be increased and errors
reduced by automating price discovery, routine trade execution and post-trade activities,” said Dan
Smith, Head of Broker Systems Business at Trayport. “This allows brokers to focus on the more
important areas of building relationships and high-value trade execution.”