Abstract: In accordance with the principles of the present invention, a novel method, system, process, and computer program is provided that synthetically replicates a plain vanilla IR Swap through a future as well as to create a more fungible interest rate swap in the spot market. The forward start interest rate swaps of the present invention consist of a consecutive series of futures that value a forward start interest rate swap to start on a settlement date. The futures replicate the floating-rate payment terms for the interest rate swap that is being synthetically replicated. The spot interest rate swap is a standardized interest rate swap that is fungible.

Abstract: In accordance with the principles of the present invention, an electronic trading platform for cash and cash futures (options) is provided. The electronic trading platform of the present invention combines the cash and cash futures (options) markets together in a single platform. The cash and cash futures (options) markets can be traded on the same screen. The electronic trading platform of the present invention also brings the cash futures (options) in line with the cash markets. In another aspect of the present invention, the electronic trading platform for cash and cash futures (options) enables the automatic matching of bids and offers. In another aspect of the present invention, an OTC cash future (option) can be provided.