LONDON: BlueCrest, the independent investment firm and a global leader in interest rate trading, has confirmed that it intends to trade in CurveGlobal products in order to improve efficiency and create a more competitive interest rate futures market.[the_ad id=”31605″]The move comes after a record start to the year for the industry-backed platform, with month on month average daily trading volumes up more than 100% in 2019, a statement issued to London Stock Exchange (LSE) said.
The support of BlueCrest is a key development for CurveGlobal as it works with market participants to disrupt the global futures market, which has seen sharply increased data and execution fees in recent years. Customers have also been hampered by the inability to trade and clear at venues of their choice.
Michael Platt, CEO and Co-Founder, BlueCrest said: “We plan to trade in CurveGlobal products because it makes business sense. Increased competition translates to improved trading economics, which can only be good news for the end-user. We’ve already seen positive changes from existing infrastructure players as a response to CurveGlobal’s innovation. This, coupled with the ability to offset CurveGlobal futures risk with cleared OTC swaps at LCH, makes the value proposition impossible to ignore.”
Andy Ross, CEO, CurveGlobal commented: “BlueCrest’s move is a reflection of the growing volumes in CurveGlobal products and the benefits of competition. Offering choice to customers, better execution, lower transaction costs and efficient margin makes clear the economic advantages we offer.”