Digitisation Shakes Up Corporate Bond Market04.24.2017
The Economist reports that buying and selling bonds, especially corporate bonds, is still an old-fashioned business. Over four-fifths of trading in American corporate bonds still takes place with a dealer, usually over the phone. Yet digitisation is at last beginning to change the structure of bond markets: witness the announcement on April 11th by Tradeweb, an electronic-trading platform, that it is to offer “all-to-all” trading in European corporate bonds, ie, a system in which any market participant can trade with any other.
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Stephanie Dumont and Ola Persson of FINRA reflect on advances in fixed income transparency.
Chris White of ViableMkts and BondCliQ is introducing a new conference model.
Aim is to increase flexibility and efficiency for institutional clients trading corporate bonds.
Investors can communicate with banks directly from O/EMS before a bond is priced.
With Joel Kim, Head of International Fixed Income and CEO Asia ex-Japan, Dimensional Fund Advisors