Plus Markets to establish derivatives exchange in London
It will offer a new exchange venue in London, the Plus Derivatives Exchange. The exchange will initially list interest rate swaps and already has Recognised Investment Exchange status.
It will offer fixed for floating interest rate exposure and products will be linked to the FTSE Medium Term Interest Rate Swap Index series. Its licence agreement with the FTSE Group will allow it to launch a range of interest rate swap products in different currencies.
It will initially offer an OTC cleared service. Then, if there is sufficient demand, it will offer exchange-traded index products, listed and traded on Plus.
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