Reuters has formed an alliance with e-MID, the European electronic market for treasury products, to offer an extended suite of trading instruments to the European interbank money markets.
Reuters will host the e-Mider Overnight Index Swaps (OIS) trading system and e-MID deposits trading system on Reuters Dealing 3000. It is a global agreement, with the exception of Italy.
Customers will access Dealing 3000 services and the e-MID marketplace from a single screen and keyboard.
Reuters plans to make the e-MID and e-Mider systems available on its Reuters Dealing 3000 platform from September 2001.
The alliance with e-MID is part of Reuters' strategy to deliver a full-service trading platform to money-market traders - peer-to-peer trading and matching, supported by straight-through-processing.
The agreement follows Reuters' move to service the OIS market through Dealing for Swaps, an enhancement to Dealing 3000. Reuters plans to start beta testing this with customers in September 2001.
Professor Francesco Cesarini, chairman of UniCredito Bank and president of e-MID, says the alliance will allow e-MID to take advantage of the trend for screen-based, multilateral matching for standardised, plain vanilla, money-market products.