Clients and partners of multi-asset trading infrastructure provider Object Trading will have immediate Direct Market Access (DMA) to CurveGlobal, when live trading begins at the new interest rate derivatives venue from 26 September.
CurveGloba, co-owned by London Stock Exchange Group, seven major dealer banks and CBOE, is the most recent addition to Object Trading’s global platform. It follows previous announcements of managed services expansions for venues in Canada and Australia.
LSEG announced the CurveGlobal venture in October 2015. It will offer market participants a new interest rate futures liquidity pool, cleared alongside SwapClear's OTC pool, to help generate capital efficiencies for participants.
By combining LSEG's technology with the interest rate expertise of the dealer banks, CurveGlobal will develop and incubate new interest rate products to benefit the full breadth of market users.
Object Trading’s Direct Market Access (DMA) Platform is an independent infrastructure that features a single gateway for normalised market data and order execution. With pre-trade risk constraints and real-time middle office integration, the platform is scalable for all types of electronic trading to over 60 markets worldwide, with minimal onboarding and maintenance investments.
From day one of trading, Object Trading’s clients will have on-demand access to CurveGlobal, in addition to existing exchanges on the platform, including the recent expansions to fully managed DMA services, with co-location, at the Australian Stock Exchange derivatives market (ASX 24) and the Montreal Exchange (MX).
Dan Hubscher (pictured), Object Trading’s director of strategy, says: “Object Trading and CurveGlobal share the mission of supporting the buy-side and the sell-side with innovative products to easily access emerging liquidity opportunities at lower total costs. Object Trading is responding to first-mover buy-sides by providing direct control over their business model in a period of sell-side retrenchment, relentless exchange innovations, and a global rise in futures volumes. These firms can use any trading screen, work with any broker, and trade CurveGlobal on day one via the same, single normalised interface for DMA to the world’s venues. Clearing brokers and screen providers can provide more flexible solutions to buy-side clients by simplifying their market access.”
Andy Ross, CurveGlobal’s chief executive, says: “Innovation and partnership are at the heart of our business, helping to create and build our range of services. In addition to partnering with top tier banks, we are working with technology firms like Object Trading, which are dedicated to enhancing market liquidity and already have a community of firms making markets around the world. Today’s news will make it easier for traders to provide liquidity on CurveGlobal from day one and with Object Trading’s Direct Market Access Platform, this community can get immediate access to CurveGlobal.”