Wematch expands platform offering 25 July 2019London Reporter: Maddie Saghir
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Wematch has added a Euro Interest Rate Swaps (IRS) matching and negotiation platform for banks in addition to its securities finances and equity derivatives offerings.
The expansion has seen J.P. Morgan, RBC, HSBC and SocGen all join the new fintech platform.
Wematch IRS is a web-based, dealer to dealer platform which gives sell-side human traders enhanced tools and workflow to match and negotiate trends.
Additionally, it offers tools to support Euro IRS curves, butterflies, and basis structures, adding to its existing portfolio of instruments, with more to be added in the coming weeks.
Joseph Seroussi, co-CEO of Wematch said: 鈥淭his is a game-changer for a traditionally underserved but enormously important segment of financial services.鈥�
鈥淲e have built up our network of users and liquidity steadily, working closely with the dealers at the banks to ensure we deliver functionality to enhance the way these instruments are matched and negotiated. The addition of Euro Interest Rates in our product offering opens the door to being a truly cross-asset platform.鈥�
He added: 鈥淲e are offering dealers a system which gives them total control over how their orders go to market, giving them enhanced protection to mitigate conduct issues and information leakage.鈥�
Gregory Mimoun, co-CEO, Wematch, commented: 鈥淲e are working with the banks to improve the whole process of managing IRS products. We have a very strong pipeline of banks either onboarding now or wanting to join the Wematch ecosystem.鈥�
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