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Raiffeisen Bank International executes non-standard interest rate swaps with AxeTrading

By Joy Dumasia

August 04, 2022

  • AxeTrading
  • Europe
  • FinTech

AxeTrading, the award-winning global fixed income trading software company, has extended its Fixed Income products’ offering to support non-standard Interest Rate Swaps. This allows Raiffeisen Bank International (RBI) to respond quickly to complex inquiries in a competitive market environment and gain electronic market share.

The actively traded instrument in the Fixed Income space, Interest Rate Swaps, add significant value to investors and dealers alike. The flexible ticket types provide all the information required by dealers to handle customer inquiries seamlessly. RBI developed its pricing library for calculating non-standard swaps, which effortlessly connects to AxeTrader and boosts quoting confidence for their traders.

Crucially, this feature can also be fully integrated into AxeTrading’s existing global products, regardless of region or currency. Its introduction will reduce administrative workload and drain by enabling all Fixed Income workflows to be handled from one application. Traders can connect to Tradeweb and Bloomberg from one market-making platform.

Coming only two months after AxeTrading announced the appointment of a new CEO, Greville Lucking, this introduction of non-standard Interest Rate Swaps signals the company’s new direction and desire to cater and respond to client feedback and industry demands.

Greville Lucking, CEO, AxeTrading, said: “We worked closely with several customers to implement this product feature and are delighted with the result an expanded product suite that is already proving its worth within a highly competitive market. Working with an institution with the reputation of RBI has brought real credibility to AxeTrading’s offering, and we look forward to working with them to continue to deliver the efficiencies and solutions that AxeTrading provides.”

Harald Müller, Head of Group Capital Markets Trading & Institutional Sales at RBI, said: “We are running a client-centric trading and sales business and are striving to always improve our product offering as well as our competitiveness from a pricing and response time perspective. Therefore, we are glad that by integrating our in-house developed pricing library into our existing Quoting and Execution Management System (QEMS) from AxeTrading, we can now offer broken date interest swaps on electronic platforms.

Through this approach, we have (i) reached the highest level of flexibility and efficiency for our pricing methodologies and (ii) reduced manual workflows for traders drastically.”

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