UnaVista launches new Swaps Portal Service

The London Stock Exchange today announced the launch of the UnaVista Swaps Portal. The Swaps Portal is a new initiative that automates the trading of CFDs and other equity derivatives and allows brokers, hedge funds and prime brokers to communicate and match data through a central, secure, audited platform.

The new service is being piloted by a number of leading hedge funds, prime brokers and executing brokers.

Mark Husler, Head of Information Services Business Development at London Stock Exchange Group, said:

“For the first time UnaVista is now available for Swaps, helping our customers to streamline trade processing.

“The new Swaps Portal from UnaVista eliminates the need for time consuming, manual processes such as emails and faxes. It enables both small and large firms to connect cost-effectively, and provides the ability to match trades and resolve exceptions on trade date.”

The service is connected to the London Stock Exchange’s FIX Gateway, providing immediate access to an international pool of over 200 brokers and buy-side firms.

The new service allows each party to send orders, allocations and cash trades which can be normalised, validated and matched automatically. UnaVista employs strict data segregation to ensure that all compliance rules are met, while improving transparency to all parties where appropriate. It can also provide extensive, real-time MIS reporting to view counterparty performance. Data can be transmitted in any format, including FIX, SWIFT, automated file uploads or through a web browser which requires no technical installation.

UnaVista is the London Stock Exchange’s secure, hosted platform for all validation, matching and reconciliation needs. UnaVista offers a range of business solutions including Post-Trade Services, Data Solutions and Reconciliations.