TrueEX swipes $9.21m for global IRS trading

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New York-based TrueEX, an electronic execution platform for the global interest rate swaps (IRS) market, has sealed $9.21m in venture financing to support its future growth.

This is the second time the fintech company raises funds this year, following a $7.75m round in May.

In January, TrueEX received a registration from the US Commodity Futures Trading Commission (CFTC) and in March its spin-out truePTS entered a trade reporting partnership with the CME Group.

The deal made truePTS the first independent derivatives post-trade service to provide a single trade reporting API compliant with regulatory requirements in the US, the EU, Canada, Singapore, Australia, Hong Kong and Japan.

TrueEX followed up with an expansion of its services to cover London trading hours and meet growing demand from Europe and the US.

This month, the platform launched a new solution enabling the execution for Brazilian Real interest rate swaps cleared at CME Group.

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