Articles
Corporate bond traders are challenged when searching for liquidity and executing trades without data leakage. The market lags other asset classes in the adoption of e-trading, where only 30% of volume is traded electronically.
LedgerEdge aims to deliver a better ecosystem and experience for finding corporate bond data, sharing data, and executing trades, by combining blockchain technology, artificial intelligence, and secure enclave computing.
Neptune, the fixed income pre-trade market utility, recently closed a successful capital raise from existing shareholders, raising in excess of $15 million across two-tranches. The majority of Neptune's existing shareholders participated in the capital raise, including Bank of America, Barclays, BBVA, BNP Paribas, Citi, Credit Agricole CIB, Credit Suisse, Deutsche Bank, Goldman Sachs, ING, J.P. Morgan, Morgan Stanley and UBS.
The investment will be used to continue Neptune's growth in technology and data, as well as client coverage and the overall business structure.
In the previous article we covered the key topics investment managers need to consider when deciding whether to lend their securities. Here we look at the various routes to the market that should be considered once you have decided to lend. The organisational and portfolio characteristics are significant factors in determining the feasible routes to the lending market.
A new report published by the International Capital Market Association (ICMA) documents the performance of the investment grade secondary bond market in Europe during the last weeks of February through March and April 2020, as the COVID-19 pandemic caused levels of market volatility and dislocation surpassing those seen during the global financial crisis of 2007-2008.
Securities Lending has evolved from a back-office operational activity originating in the 1960s/70s – borrowing securities to cover settlement failures and supporting short-selling investment strategies – to a recognised investment management discipline that can be a source of additional alpha and revenue for beneficial owners and investment managers.
The MTS BondsPro electronic trading platform is now available to Mexican institutional clients in Latin America, delivered through a marketing agreement with Marco Polo Securities.
Fixed income traders will have electronic order book access to Mexican peso-denominated corporate and treasury bonds, and will become part of the international BondsPro trading community of more than 600 broker dealers and buy-side clients participating in the BondsPro all-to-all order book.
TransFICC, the specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives Markets, has closed its Series A investment round for£5.75 million. Led by AlbionVC, it included new strategic investments from ING Ventures and HSBC.
The new investors join existing shareholders, Citi, Illuminate Financial, Main Incubator (the R&D unit of Commerzbank Group) and The FinLab.
Singapore Exchange Limited (SGX) and CITIC Securities have agreed to collaborate across multiple areas, including fixed income, currencies and commodities (FICC), real estate investment trusts (REITs), as well as equity, and debt capital markets.
Under the agreement, both parties will explore the development and listing of new bond and risk management products for international participants who are looking to invest in China’s bond market.
Tradeweb has released its monthly volumes for March, which show significant trading activity across asset classes.
- March 3 saw a new daily record volume, with more than $1.5trn traded.
- Average daily volume (ADV) hit a new high of $1.0 trillion, an increase of 41.5 % YoY.
- During Quarter 1 of 2020, ADV was $897.8 billion, up 39.0 % YoY.
TransFICC, and SoftSolutions have announced a partnership to provide clients with connectivity and workflow solutions for Interest Rate Swaps.
OpenDoor, the provider of a continuous order book for less liquid US Treasuries, has named Carson Wong as Chief Technology Officer. OpenDoor's current CTO Michael Sacks will retire in April 2020.
For the fifth consecutive year, Citi has been ranked first for overall market share in the Greenwich Associates annual benchmark study.
Citi was recognised as the leader in Rates, Emerging Markets and Municipal Bonds, ranking second in Credits.