Raiffeisen Bank International executes first non-standard Interest Rate Swaps
London, July 2022: AxeTrading, the award winning global fixed income trading software company, has extended their 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 active 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 seamlessly handle customer inquiries. RBI developed their own pricing library for calculation of 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 products across the globe, no matter of region or currency. Its introduction will therefore 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: “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:
“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"
AxeTrading was founded in 2009 and is head quartered in London with a technology innovation centre in Germany and sales offices in Sydney and Singapore.
AxeTrading has unique insight and market intelligence drawn from supporting trading across the full range of fixed income market participants.
The AxeTrader Quoting and Execution Management System (QEMS) workflow gives access to the most flexible, personalized and user configurable fixed income quoting and pricing engine.
AxeTrader is the only fixed income trading system that is designed to be interoperable and seamlessly integrate with existing infrastructure and legacy systems.
AxeTrader is not a trading venue, rather we free traders to make best use of their existing systems to interact seamlessly across execution venues and connect to leading market data sources.
RBI regards Austria, where it is a leading corporate and investment bank, as well as CEE as its home market. 12 markets of the region are covered by subsidiary banks. Additionally, the RBI Group comprises numerous other financial service providers, for instance in leasing, asset management or M&A. To support its business activities, RBI operates representative offices and service branches at selected Asian and Western European locations.
Around 44,000 employees service 17 million customers through approx. 1,700 business outlets, the by far largest part thereof in CEE. RBI’s shares are listed on the Vienna Stock Exchange. The Austrian regional Raiffeisen banks own around 58.8 per cent of the shares, the remainder is in free float.