e-MID, the European electronic market for treasury products, has introduced the US dollar to its e-Mider Overnight Indexed Swaps (OIS) trading system, following a decision by the US Federal Reserve Bank to allow the company to enter the US deposit market in August.
Both e-Mider and e-MID, the deposits trading system, can be accessed directly or through Reuters Dealing 3000 foreign exchange interbank trading system.
Vincenzo Mioccio, general manager of e-MID, says: “US dollar OIS are paramount to our strategy of turning e-MID and e-Mider into multi-currency markets, thereby allowing for geographic distribution even outside Europe. We do not rule out adding more currencies on either market in the near future."
e-MID is also launching a new function, named Serial Quotation, which enables users to enter multiple quotes into the market with a single operation and to automatically update interest rates via a dynamic link to their pricing tools in Microsoft Excel.