Sky Road Debuts Swap Trader

Trading platform provider Sky Road has released Swap Trader, the first trading application for its hosted Motion environment, vendor officials tell Sell-Side Technology.

"The product was designed for firms looking to enter the new market of centrally cleared derivatives quickly," says John Borse, CEO of Sky Road. "A typical deployment happens in weeks, not months. But it could take longer depending on who they would like to connect.”

Users will have access to intra-day profit-and-loss (P&L) views and pricing curves powered by a number of major market data providers, according to vendor officials. Users can also execute their orders via direct central limit order book access, requests for quotes (RFQs) and block/off-exchange trades, the officials add.

Sky Road delivers its new multi-tier application to the client via a Citrix connection over the internet from its datacenter.

"All firms need is a virtual private network (VPN) connection to link their internal systems to Swap Trader," says Eiman Abdelmoneim, a principal at Sky Road.

Fewer than a dozen clients have been using the trading platform since the beginning of the year, but now the vendor is offering it for general availability.