TP ICAP launches electronic trading system for reducing risk in fixed income portfolios

MATCHBOOK ReBalance is the latest post-trade risk management tool from TP ICAP that can be used across emerging market, investment grade, high yield, financial, and corporate bonds.

Interdealer broker TP ICAP has extended its post-trade risk management business with the launch of an electronic trading system that allows clients to reduce residual risk in fixed income portfolios.   

Named MATCHBOOK ReBalance, the platform runs matching sessions for traders to clear up unwanted positions and mitigate secondary risk in portfolios across emerging market, investment grade, high yield, financial, and corporate bonds.  

The platform uses TP ICAP’s proprietary dark pool technology  to reduce information leakage by ensuring the details of orders and trades are closed. Clients can upload their entire portfolio onto the platform and then choose what they want to trade, with price parameters. 

“MATCHBOOK ReBalance gives our clients a simple, easy to use system that will allow them to reduce residual risk,” said Mark Russell, chief commercial officer of TP ICAP Credit.   

“This platform helps eliminate the time-consuming task of trading residual risk, providing our clients with a fresh turnover and a cleaner balance sheet; allowing them to spend more time focusing on client flow and less time on admin-heavy stale positions.” 

The solution joins TP ICAP’s growing post-trade risk management portfolio, includingMATCHBOOK Rates for minimising fixing risks in forward rate agreements (FRAs), MATCHBOOK NDF for reducing date mismatch risks in Asian and LatAmin non-deliverable forward (NDF) markets, and the firm’s broker’s bilateral compression services,ClearCompress.  

Last month, TP ICAP appointed David Everson as head of its Matchbook Credit EMEA business, alongside Rosie Wood as sales and liquidity managerexpanding the senior management of its Matchbook post-trade risk management business.