E-Broking
tpMATCH
tpMATCH is Tullett Prebon's electronic FRA matching platform that enables traders to reduce their Libor fixing risk. The system will be available in all major currencies, in multiple tenors and hosted by our London, New York and Singapore offices.
Libor fixing risk is reduced as the result of matching trades across portfolio positions. Each switch consists of two legs: one buy and one sell. Each leg may be made up of different notional amounts but the totals for each leg will be equal. In certain major currencies an IMM hedging process will be applied in order to counteract the
NPV differences resulting from the matching trades.
Traders can send orders to the matching sessions by e-mailing computer generated spreadsheets to tpMATCH or by entering orders directly in to our fully secure website.
Once all orders have been uploaded into the system, tpMATCH performs a matching run. The run is based on a very accurate mid-market curve recognised by the market participants and incorporating all market expectations and Central Bank dates. Post matching run, traders will be notified of their trades and residual orders via e-mail. All confirmations will be generated automatically and sent in the usual way, including Markitwire / Swapswire confirmations.
