Barclays Capital Rolls Out Electronic Credit Default Swaps Trading (Wall Street Journal)

Execution and clearing mandates for OTC derivative trades are still nearly a year a way by my estimates, but the Street is already getting ready.  While Deutsche Bank and Bluemountain Capital executed CDS trades through Tradeweb and cleared via the CME and ICE, Barclays was busy rolling out its new electronic CDS trading product for clients.  My comments in the article explain the status of the move to a post Dodd-Frank world:

“Currently there is little demand from clients to trade CDS or other swap products electronically; liquidity is still thin and brokers provide needed market color over the phone,” said Kevin McPartland, senior analyst at research firm TABB Group. “But availability today will leave everyone more comfortable when the big day comes.”

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