Tradeweb streamlines bilateral swap unwinds
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After sterling IRS termination, platform eyes electronic credit checking and CSAs
Tradeweb has completed the first electronic termination of a bilateral interest rate swap, part of a wider plan to streamline lifecycle events and entice more non-cleared derivatives into electronic trading.
The transaction saw Citi and BlackRock unwind a five-year swap referencing the Sterling Overnight Index Average, or Sonia, in late August. This follows the first fully electronic termination of
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