BBVA joins MTS Swaps

  • BBVA eighth founding dealer and liquidity provider
  • MTS Swaps is expected to go live in the coming weeks
  • Provides platform for buy-side to trade interest rate swaps
  • Will enhance transparency and efficiency in European interest rate swaps

BBVA has joined the group of founding dealers providing liquidity on MTS Swaps, a new electronic market for interest rate swaps. At launch, buy-side institutions will be able to trade with a total of eight banks on the platform via their chosen sponsor dealer. Other liquidity providers on the platform include BNP Paribas, Commerzbank AG, Crédit Agricole Corporate and Investment Bank, HSBC, Lloyds Bank Commercial Banking, Société Générale Corporate and Investment Banking and UBS AG.

MTS Swaps will provide a multi-lateral environment for electronic swaps trading, giving buy-side participants sponsored access to the best prices available in the market. The platform will offer interest rate swap trading via request for competitive quote (RFCQ) and executable prices, delivering certainty of execution, a simplified post-trade process and reduced operational and counterparty risk. MTS Swaps will support the full trade lifecycle from pre-trade price discovery and execution to post-trade reporting and connectivity to clearing.

Jack Jeffery, CEO of MTS, said:  “The launch of MTS Swaps builds on 25 years of experience in operating electronic fixed income markets. We are delighted that BBVA has joined the founding group of liquidity providers who will be able to offer their buy-side clients access to trade interest rate swaps in an electronic multilateral environment.”

Antonio Torralba, Head of European Flow Trading at BBVA, said: “MTS Swaps gives our clients the multilateral market model and access to multi-dealer liquidity required in the evolving regulatory landscape whilst maintaining their anonymity through sponsored access. It enables us to strengthen relationships with our clients by providing them with instant access to liquidity and an efficient and transparent trading environment for interest rate swaps.”

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For further information:

Lucie Holloway +44 (0)20 7797 1222

Notes to editors:

About MTS:

MTS is Europe’s premier facilitator for the electronic fixed income trading market, with over 500 unique counterparties and average daily turnover exceeding EUR 85 billion. MTS customers benefit from its relationship with Europe’s leading diversified exchange business, the London Stock Exchange Group, which operates the largest and most liquid equity marketplace in Europe.

MTS markets provide the professional trading environment for the interdealer marketplace, enabling primary dealers from across the globe to access unparalleled liquidity, transparency and coverage.

The MTS Repo platform delivers an order driven market for the electronic transaction of repo agreements and buy/sellbacks. ACM is an electronic auction platform that uses the MTS Repo technology to enable cash-rich investors to enter into secured money market investments via the tri-party repo mechanism.

MTS further facilitates the dealer-to-client bond market through BondVision, a most trusted and efficient electronic bond trading market, delivering exceptional access for institutional investors direct to the market makers, while MTS Credit delivers an electronic market for a wide range of multi-currency non-government bonds.

Through our US broker dealer, we provide US institutional investors with real-time pricing and the ability to trade electronically with all the major European dealers on the BondVision US platform.

MTS Data is sourced directly and exclusively from the MTS interdealer market and includes benchmark real-time data, reference data, reference prices, historical data, providing the benchmark data source on the fixed income market.

MTS Indices provide the first independent, transparent, real-time and tradable eurozone fixed income indices, based on tradable prices from MTS. MTS indices are tracked by (and can be traded via) around 40 ETFs in addition to numerous structured products.

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.

The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.

Post trade and risk management services are a significant and growing part of the Group’s business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.

The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS. FTSE calculates thousands of unique indices that measure and benchmark markets and asset classes in more than 80 countries around the world.

London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 30 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology.

Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.

Further information on London Stock Exchange Group can be found at: