Swapstream is an independent service provider offering a global trading platform to the banks and brokers in the interest rate swaps (IRS) trading community. Swapstream brings to the medium and long term IRS market the only neutral electronic multilateral marketplace and trading system that improves the way business is currently done and reduces costs without altering the behavior of the market participants. Swapstream's system handles medium and long-term interest rate swaps (outright and futures-crossed) and swap spreads in EUR and CHF, and is expected to launch USD and GBP swaps. The system is delivered to customers over a secure private network from Deutsche Borse facilities in Frankfurt, which offer 'best of class' levels of reliability in terms of application hosting and disaster recovery.In July 2006, Swapstream was acquired by CME Group. The valuation of Swapstream was undisclosed. Other terms of the deal were not released.