Lloyds Bank has joined interest rate swap trading platform Trad-X as a founder participant.
Trad-X, run by interdealer broker Tradition, provides streaming, two-way pricing across the most liquid interest rate swaps in euros, sterling and US dollars.
Lloyds said it will work with Tradition to grow Trad-X’s hybrid capability in the GBP market, along with its existing currency offerings.
Daniel Marcus, CEO of Trad-X, said: “As one of the leading GBP banks, Lloyds will add further quality liquidity, as well as product expertise and input in the development of our nascent GBP hybrid platform. We look forward to GBP IRS replicating the success of our USD and EUR offerings”.