Gov desk + IRD desk
IRD trading desk is very close to Gov bond trading desk which includes agency bond.
IRD covers IRS, ED futures, T futures, vanilla derivatives and exotic derivatives .. some of these derivatives take a long time to price.
Core of the entire IRD system is the risk engine. It “Provides real time risk assessment to traders” — a one-sentence explanation by an IT manager in the team.
Gov desk has higher trade volume, mostly flow trades, with some prop trades. IRD vol is lower – about 1000 trades a day, with 8000 positions in one of the top International i-banks.