Icap to add trading to i-Swap

The UK-based broker is to enter the market in September by adding trading capabilities to its i-Swap product – currently a platform for view-only distribution of interest rate swaps data to Icap clients, which the firm's brokers also use to electronically book voice-brokered trades to the firm's back office.

While the launch reflects greater overall market moves towards electronic trading of swaps contracts, it could also be seen as a response to the success of Barx, Barclays Capital's page