Dresdner Plans Interest Rate e-Swaps
TECHNOLOGY NEWS
FRANKFURT--Dresdner Kleinwort Benson, the investment banking arm of Dresdner Bank, is piloting a new i0nternet swaps service with 10 European corporate clients this month.
The brainchild of Matthias Leclerc, Dresdner's head of e-commerce investment banking, the service will offer firm prices for interest rate swaps--on the basis of agreed preconditions and credit limits negotiated with each client.
Leclerc says Dresdner is set to become the first bank to transact an e-swap with a corporate
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