HPC Group will launch a European electronic trading platform dedicated to over-the-counter money market products in July.

The race is on to build an electronic swaps trading platform that will bring anonymity to plain vanilla money market products. In a similar move, Garban-Intercapital purchased trading technology from Computershare this month to build an electronic trading and confirmation system for interest rate swaps but it may take up to 18 months to come to market.