This marks a significant step forward in the evolution of bilateral derivatives trading and the broader electronification of the swaption and derivatives market.
Tradeweb Markets Inc., a financial technology company, has completed the fully electronic request-for-market (RFM) swaption package trade on the Tradeweb Swap Execution Facility (TW SEF) with Barclays and Citadel acting as counterparties. A swaption gives participants the option to get into an interest rate swap in the future at a pre-determined rate A swaption gives participants the option to get into an interest rate swap in the future at a pre-determined rate. It also offers traders to ta