Live settlement times and consolidated liquidity, published straight from the desk's own ledger.
Every OTC desk claims fast settlement and deep liquidity. We publish the measurements instead: settlement percentiles are computed from our append-only trade event ledger, and book health comes from the same live venue feed our pricing engine quotes against. If the numbers are bad on a given day, this page says so — that is the point of it.
Swaps settled from August 2026 onward carry a per-trade execution-quality record on the receipt: the market rate at the moment of the quote, the all-in spread, and what the market did while we settled at your locked rate. Earlier trades predate that record and do not have one. Monthly statements with the same figures download as PDF from your dashboard, or over the API.
The drift figure above is the one we would most like to leave off. It is how far the market moved between a client locking a rate and us settling it — the exposure we absorbed so that rate could stay firm. It only ever makes us look worse, which is why it is the number worth publishing.