Bloomberg facilitates implementation and Clearing of CDs and IRS E-Commerce

J.P. Morgan performs transactions with multiple companies on the appropriate platform

Bloomberg prepares for launch of Swap execution

NEW YORK--Bloomberg executives announced today that J.P. Morgan electronically executed and cleared credit default swap (CDs) and interest rate swap (IRS) employee on fixed-income electronic trading Bloombergs platform (FIT).

They show that fixed income firm Bloombergs preparing to the broad requirements of the Act on the Dodd-Frank requiring greater transparency and efficiency in the OVER-THE-COUNTER (OTC) derivatives trading on the market. Bloomberg plans to register with the u.s. Commodity Futures Trading Commission (CFTC) and the u.s. Securities and Exchange Commission (SEC) that a Swap execution Facility (SEF) and security-based Swap execution Facility (SBSEF), respectively.

Ben Macdonald, global head of fixed income activities, Bloombergs, said, "these lines represent the next generation of electronic trading and clearing. Today's execution, our ability to handle large volumes and our VCON voice confirmation platform, show Bloombergs capable of supplying the customers with all the options they need. " MacDonald added-with all of your fixed-income tools a single integrated system is useful and helps eliminate opportunities for risk.

"We found that Bloombergs customize platform is a great way for us to run and clear credit index trades," says Rob Milam, co-head of North American credit trading at J.P. Morgan. "We have been at the forefront of the electronic commerce since we first offered the CDs single dealer trading via JPTE in 2009".

Among the clients participating in the shops were: BlueMountain Capital Management, Claren Road Asset Management, Diamond notch Asset Management, Gracie credit facilities Fund and PAMLI Capital Management LLC.

Greg Pearson, Gracie credit opportunities Fund's financial Chief said "with changing OTC landscape, light navigate new work-flow is of utmost importance to our stakeholders. Gracie Credit working with Bloomberg and J.P. Morgan because they are the market leader in fixed-income electronic trading, which we consider to be an important new platform for running our investment strategy. "

Earlier this month, is FIT, finished more than Bloomberg 1 trillion $ in electronically traded IRS and CDs 2011, making it the market leader. Bloomberg clients have direct connection to CME Clearing, ice, the International Derivatives Clearing Group (IDCG) and LCH.Into Clearnet for voice executed transactions since 2009. Also, Bloomberg has now 23 liquidity providers actively for the IRS, emissions trading and 11 retailers live for CDs trade.

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