From Voice to Velocity: New Data from Clarus Shows Interdealer Swaps Entering Its Next Phase 

By James Cawley and Christopher Jonns, Founders, RTX  According to newly published data from Clarus, an ION company, RTX reached a 5.1% share of D2D platform cleared SOFR swap risk trading in December 2025 — just over two years after our first trade in September 2023. In one of the most conservative and structurally entrenched parts of the rates market, that […]