NEW YORK, Oct. 4, 2012 /PRNewswire/ -- InterDealer Information Technologies LLC announced today that its corporate bond and credit default swap trading platform used by UBS under the name "UBS Price Improvement Network – Fixed Income" has been awarded the "2012 Electronic Trading Platform of the Year" by Derivatives Intelligence, a division of Institutional Investor Magazine.
InterDealer's system was selected as the platform that "stood out over the last 12 months in terms of multi-asset product offering, connectivity, execution and usability." The platform was reviewed with end-users, including private banks and wealth managers.
In winning the award, the system beat out other trading systems developed by Deutsche Bank, Barclays Capital, Royal Bank of Scotland, and Morgan Stanley.
The InterDealer platform allows UBS to act as a broker for its clients. "The trading platform is designed to address the capital efficiency issues faced by many of the world's largest banks," said Dan White, InterDealer's founder and Chief Systems Architect. "The system's enhanced agency brokerage model provides efficiency to UBS operations and greater liquidity to UBS's clients."
InterDealer also licenses its system to the New York Stock Exchange, Bonds.com, and others. InterDealer's global trading network delivers electronic trading data to 9 out of the 10 largest banks, and its users include 8,000 credit traders in over 2,000 financial institutions. Approximately 10% of the corporate bond trades executed each day in the US are executed on the InterDealer trading platform through one of its customers. Since 2005, over $5 Trillion in trading transactions have been executed on the InterDealer trading platform.
Stu Sanderson (646) 530-8637
SOURCE InterDealer Information Technologies LLC