1. An electronic trading system comprising: a plurality of trader terminals for receiving credit parameter data, arbitrage parameter data, and trading data from a trading entity and displaying trade information to the trading entity, said trading data including bid and/or offer information input by the trading entity; a computer connected to said plurality of trader terminals via a communications network, said computer receiving and storing said credit parameter data and said trading data from said plurality of trader terminals; detecting means for automatically detecting an available arbitrage transaction including a plurality of trades based on said credit parameter data, said arbitrage parameter data, and said trading data; and executing means for automatically executing said available arbitrage transaction by executing all of said plurality of trades.