As trends in OTC derivatives trading continue to be influenced by new regulations and technology, IPC Systems, Inc., a leading provider of voice and electronic trading communications solutions to the world’s top financial services firms and global enterprises, today announced that TeraExchange, an approved Swap Execution Facility (SEF), has joined IPC’s Connexus Financial Extranet service.
Using IPC’s Connexus, numerous capital market participants around the globe will be able to access a variety of trading technologies from TeraExchange. As well as a multi-asset class central limit order book, these services include TeraDirect, a full-featured execution management system (EMS); and TeraCheck, a credit risk management tool.
“Providing access to IPC’s network provides significant operational improvements to our users,” said Leonard T. Nuara, President, Chief Operating Officer and Co-Founder of TeraExchange. “It will enhance compliance through the use of a proven and secure extranet.”
“IPC is committed to providing industry leading, value-added network solutions for traders in a reliable and secure environment,” said Bart Bartolozzi, Senior Product Marketing Manager, IPC. “The growth in OTC trading and the launch of SEFs are the latest trends in the industry and are therefore in high demand. Connexus provides leading market participants with access to critical trade lifecycle applications from TeraExchange that enables their participation in this industry opportunity.”
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The Connexus Financial Extranet is part of the IPC Financial Markets Network service portfolio, which also includes private extranet and DirectConnect data services, as well as Trader and Enhanced voice connectivity services. IPC’s Financial Markets Network interconnects global financial centers and allows access to more than 4,000 market participant locations in over 700 cities in nearly 60 countries. Built on an IP/MPLS backbone, the highly scalable and secure Connexus supports a number of industry standard and trading protocols.
IPC offers high- and low-touch trading communications solutions to the global financial trading community including the top investment banks, hedge funds and investment managers in established and emerging markets. With a 100-percent focus on this sector and nearly 40 years of expertise and an unrivaled record of innovation, IPC provides customers with unified solutions that support collaborative voice trading and real-time electronic trading and market data connectivity. IPC’s offerings include the first unified communications/application platform, award-winning hard and soft turrets, electronic connectivity services including enhanced voice services, business continuity solutions, and follow-the-sun service and support. IPC’s global reach extends to nearly 60 countries – including a financial extranet of 4,000 on-net locations in over 700 cities and more than 115,000 turrets deployed worldwide. Headquartered in Jersey City, New Jersey, IPC has approximately 1,000 employees located throughout the Americas and the EMEA and Asia-Pacific regions. For more information, visit www.ipc.com.
TeraExchange is a CFTC registered swap execution facility (SEF) offering market participants an anonymous, multi-asset class central limit order book (CLOB) for interest rate swaps, credit default swap indices and FX derivatives.
With benchmark and bespoke instruments listed, TeraExchange enables participants to initiate, hedge, consolidate or terminate a diverse set of risk positions. TeraExchange also offers institutional investors a direct-to-dealer (or request-for-quote) trading protocol integrated into its CLOB including compression and unwind services for full life-cycle management.
In addition to its core trading platform, TeraExchange offers two other trading tools for institutional investors. TeraDirect is a front-end execution management system that provides real-time pricing from a range of execution venues, as well as other tools needed to trade on TeraExchange. TeraCheck is a proprietary pre-trade credit risk management engine for market participants, including futures commission merchants (FCMs). TeraCheck integrates seamlessly with in-house and external credit hub systems. Participants may also connect to TeraExchange via FIX, FAST, FpML and other protocols.