Derivatives pioneer heads interest-rate swap venture

08/2/2011 | Wall Street Journal, The

Last year, Sunil Hirani left the credit default swap broker Creditex, which he co-founded and then sold to IntercontinentalExchange. Now, Hirani is leading a venture based on the telephone-to-screen shift of the interest-rate swap business. "The market is quickly moving towards an electronic trading model," said Woody Garavente, interest-rate swaps market manager for Tradeweb Markets.

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