It is established as an electronic exchange platform for global interest rate swaps (IRS), a market estimated at over $300 trillion.

On September 28, 2012,[2] trueEX became the first electronic swaps exchange to receive approval by the U.S. Commodity Futures Trading Commission (CFTC)[3] as a Dodd-Frank compliant Designated Contract Market (DCM).

The company will initially trade interest rate swaps, will add other liquid derivatives to its portfolio and is the first to provide back loading, termination, re-balancing and compaction services for the interest rate swaps market.

In the first year of operation, trueEX has on boarded 11 clearing houses, 14 dealers, and 63 buy-side firms.

trueEX has executed over $2.7 trillion in PTC, RFQ, Compressions, and Post Trade Services for the buy-side and dealer community.