Creditex, one of the world's two online platforms for trading credit derivatives, last week went live with its web-based service. This follows a two-week pilot programme in which real trades were executed and more than 500 trades were posted, representing more than $10bn (E10.5bn) in notional value.

Founder Sunil Hirani says: 'It is going very well. Trades have been done and postings are going up.'