Garban-Icap To Launch Swapcross In January

TECHNOLOGY NEWS

LONDON--Garban-Intercapital recently announced that it is launching an online system for trading interest rate swaps at the International Swaps and Derivatives Association benchmark fixing rate. The system -- called Swapcross -- will launch in January, says Kieron Nolan, director of product development at Garban-Icap in London.

The browser-based site allows traders to post vanilla-swap orders anonymously, and confidentially without revealing to the market the size or direction of the order. T