Medium Term Interest Rate Swaps (IRS) cover maturities from two to ten years while Long Term IRS cover maturities from 10 to 60 years. This is one of the most well-established derivatives markets and ICAP has a long-held position of eminence within it.
Medium and Long Term IRS allow two parties to switch both floating and fixed interest rate cash flows in a preferred currency for long periods of time.
IRS are some of the most actively traded instruments on the OTC derivatives market, with the euro IRS market being considered the biggest and most important of all interest rate markets in Europe. IRS markets are valued for their highly liquid products, enabling investors to hedge credit risk and speculate on future price fluctuations.
ICAP is highly valued by IRS market participants and covers a wide range of currencies and maturity bands, offering a full OTC broking service across international currencies.
Our broking desks are located around the world, providing bespoke IRS contracts with a maturity of up to 60 years. We have designated desks to cover a wide range of specific currencies and maturity bands offering a full broking service across international currencies.
The i-Swap electronic platform operates a regulated Multilateral Trading Facility (MTF) for euro denominated swaps . The platform supports both Central Limit Order Book (CLOB) and Targeted Streaming (TS) markets with full trading functionality available to all market users. Its hybrid CLOB and pure electronic TS markets ensure leading liquidity, execution and transparency, and combine the best of voice and electronic markets.