We’re pleased to be able to exclusively announce to our readers that a new electronic trading platform for the industry loss warrant and secondary catastrophe bond trading markets is now live and and operational with live pricing.
MYRIAS provides real-time access to these instruments online in a secure and anonymous OTC trading environment. MYRIAS promises to offer a view of these markets which to now has been a little limited and will enable end users of ILW’s and secondary cat bonds to access the markets directly without the need for a broker should they choose. This can only be a good thing for these markets as it will aid transparency, liquidity and efficiency in trades. It could also pave the way for further standardisation within these markets as MYRIAS have developed standardised documents for both reinsurance and derivative ILW contracts.
We’re also delighted to see the adoption of new technologies which are (we believe) a first in our markets. MYRIAS have made use of ultra modern online technologies and have embraced rich internet application architecture with their choice of platforms used. This demonstrates an innovative streak among the team responsible for creating this new trading platform.
We’ll bring you more details on MYRIAS in the coming days but for now we urge you to visit their website (www.myriaslive.com) and try out the service. We think this is a positive step forward for the market and hope open trading platforms such as this can help remove barriers to trading in these instruments.