Corporate finance group, TradeRisks, is developing a new type of derivatives trading platform, TRL Exchange, Financial Times reports. The platform will allow pension funds and industrial companies to transact off-exchange derivatives between themselves, cutting out banks that have served as intermediaries in such deals. TradeRisks is nearing a deal between a U.K. housing association and a pension fund that for the first time will not involve a bank as intermediary. TRL Exchange has over 20 members so far, including housing associations and pension funds and is in talks with FTSE 100 companies and others across continental Europe.

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