Bloomberg has teamed with Barclays Capital to launch a single dealer online platform for trade execution for interest rate swaps.
The new platform will allow users to electronically trade on live euro interest rate swap prices.
Users of the Bloomberg Professional service can now trade plain vanilla Euro swaps by going to ET, selecting the dealer's specific offering page and clicking on the pay or receive rate to bring up a ticket.
Traders can also access the platform via Barclays Capital's single dealer page Barx by selecting BXSW. Bloomber says the system includes auto-ex functionality so the process will be fast, efficient and transparent.
Russel Levi, global head of fixed income electronic trading, Bloomberg, comments: "This initiative gives new choice to the interest rate swaps market and further expands the range of fixed income asset classes that can be traded through Bloomberg."