More NewsToyota Motor Credit Corp. Uses TreasuryConnect For First Online Purchase Of Interest Rate Cap

Toyota Motor Credit Corp. Uses TreasuryConnect For First Online Purchase Of Interest Rate Cap

Toyota Motor Credit Corp., the U.S. financing arm of the international auto industry giant, used TreasuryConnect LLC’s Internet-based trade execution platform Thursday, August 10, to conduct the first-ever online purchase of an interest rate cap. The transaction was one of two ‘landmark’ trades done over TreasuryConnect during the week of August 7; Xerox Corp. conducted the first online Canadian dollar-denominated interest rate swap Tuesday, August 8. ‘Toyota is excited to be participating in this emerging platform for derivatives trading,’ said Amit Shroff, Treasury Risk Manager, Toyota Motor Credit Corp. ‘We believe the financial world is migrating toward electronic trading platforms, and we are pleased to be evaluating TreasuryConnect as part of our strategy for moving in this direction.’

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