Prebon launches online FRA system
TECHNOLOGY NEWS
LONDON -- Brokerage house Prebon Yamane Asia-Pacific has launched an online matching system for floating-rate reset risk positions in swap portfolios for Australian dollar (A$) and Hong Kong dollar (HK$) currencies.
The system, PY Match, automates the process for forward-rate agreement (FRA) and single-period swap matching. It is aimed at increasing efficiency in the matching process, which traditionally involves complex data gathering and position matching at mid-point prices, said Prebon.
PY
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