SwapsWire Launches Service in Korea
Tullett Prebon Money Brokerage (Korea) (Tullett Prebon) and BGC Capital Markets and Foreign Exchange Broker (Korea) (BGC) are the first interdealer brokers to use SwapsWire in their Korean offices to provide trade confirmation and STP for their dealing clients. SwapsWire has added support for Korean Won interest rate swaps in both deliverable and non-deliverable format. Non-deliverable swap trades have all settlement amounts converted to US dollars at the time of payment. Typically, the swaps are traded in deliverable form on-shore, and non-deliverable form off-shore.