Gmex, the European derivatives trading start-up, is considering plans to licence its interest rate swap future to other exchange groups with the aim of boosting trading in the product and lowering collateral costs.

The group, which is awaiting approval from the UK's Financial Conduct Authority ahead of an expected launch later this year, is one of a number of derivatives initiatives that have emerged as a result of regulatory reforms that will push more swap trading onto exchanges and through clearing houses.