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BBVA joins MTS Swaps

First Published 14th January 2014

BBVA becomes eighth founding dealer and liquidity provider, MTS Swaps expected to go live in the coming weeks.

Jack Jeffery, CEO, MTS

Jack Jeffery, CEO, MTS

"The launch of MTS Swaps builds on 25 years of experience in operating electronic fixed income markets. We are delighted that BBVA has joined the founding group of liquidity providers."

BBVA has joined the group of founding dealers providing liquidity on MTS Swaps, a new electronic market for interest rate swaps.

At launch, buy-side institutions will be able to trade with a total of eight banks on the platform via their chosen sponsor dealer. Other liquidity providers on the platform include BNP Paribas, Commerzbank AG, Crédit Agricole Corporate and Investment Bank, HSBC, Lloyds Bank Commercial Banking, Société Générale Corporate and Investment Banking and UBS AG.

Jack Jeffery, CEO of MTS, said: "The launch of MTS Swaps builds on 25 years of experience in operating electronic fixed income markets. We are delighted that BBVA has joined the founding group of liquidity providers who will be able to offer their buy-side clients access to trade interest rate swaps in an electronic multilateral environment."

Antonio Torralba, Head of European Flow Trading at BBVA, said: "MTS Swaps gives our clients the multilateral market model and access to multi-dealer liquidity required in the evolving regulatory landscape whilst maintaining their anonymity through sponsored access. It enables us to strengthen relationships with our clients by providing them with instant access to liquidity and an efficient and transparent trading environment for interest rate swaps."