New chief steers growth at AxeTrading with introduction of non-standard interest rate swaps

Raiffeisen Bank International was the first participant to execute the new instrument on AxeTrading earlier this month.

Fixed income trading software provider AxeTrading has expanded its suite of products to include interest rate swaps.

AxeTrading said the news signalled its “new direction” following the appointment of Greville Lucking as its new chief executive in April. Former CEO Ralf M Henke stepped down from the role in January alongside founders Mark Watters and Dinos Daborn to support the company’s “next stage of growth”.

“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,” said Lucking. “Working with an institution with the reputation of RBI has brought real credibility to AxeTrading’s offering.”

Raiffeisen Bank International (RBI) was the first participant to execute one of the instruments on AxeTrading earlier this month. The firm has also integrated its pricing library for calculation of non-standard swaps which the pair claimed would boost quoting confidence for traders.

“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,” said Harald Müller, head of group capital markets trading and institutional sales at RBI.

“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 reached the highest level of flexibility and efficiency for our pricing methodologies and reduced manual workflows for traders drastically.”