Electronic Bond Trading Gains Ground – Bloomberg
February 16, 2018 \
0 Comments
Full Article: Bloomberg
The growing success of the 2015 venture (TruMid) is the latest sign that new technology is making its mark on the bond market, even as Wall Street maintains a strong grip on a business still done by phone or chat, where larger trades still pose a challenge.
Comments
Apple Cuts Back on Bond Buying in Advance of Bringing Cash Home – Bloomberg
About $157 billion of Apple’s $285 billion in cash, mostly held overseas, is invested in corporate debt, making it a leading lender. The cutback in buying, echoed by other tech firms with sizable overseas holdings, such as Alphabet Inc and Oracle Inc., could have an impact on corporate borrowing costs.
Comments
Treasury Traders Shy Away From Order Books – Greenwich Associates
A question we posed in a recent research study to the buy side was, first, do you trade on-the-run U.S. Treasurys via an order book? 95% said no. We then asked if they thought gaining access to an order book market for U.S. Treasurys would improve their over execution quality – only 16% thought it would.
Comments
Mending Market Making: How to Reverse the Corporate Bond Dealer Slump – ViableMkts
There have been numerous false assumptions about what methods would help dealers achieve success in the new market. Institutions that plan to revive their bond market-making business lines must identify which fundamental changes have rendered some traditional business practices obsolete.
Comments
Bond Traders Aren’t Immune to Automation, Goldman’s CFO Says – Bloomberg
Chavez, the bank’s chief financial officer and a former Silicon Valley startup founder, said that part of a spending push has been devoted to analyzing how traders, salespeople and support personnel work, and automating those processes.
Comments
Fixed Income (Il) Liquidity in Focus – Markets Media
“Banks can’t do everything for us, nor should they,” he said. Electronic trading platforms and other alternative liquidity providers can help to the extent that they aggregate liquidity, but block trading remains a significant challenge, Prager said.
Comments
Top Market Structure Trends for 2018 – Greenwich Associates
After years of debating trading protocols and what should be counted as “true” electronic trading, the debate will shift to who can provide the best data and derived insights that ultimately help both liquidity-makers and takers get their jobs done.
Comments
ING to Expand AI in Bond Trading – Markets Media
In addition to providing traders with a visualization of relevant historic and real-time data, Katana’s algorithms provide forward looking predictions of the price that will win an RFQ within a certain confidence range. Future developments include being able to price within Katana.
Comments
Goldman Traders are Caught Up in a Bizzare, Tense Hedge Fund Battle – Bloomberg
The flap was ignited by Blackstone Group LP’s credit unit, GSO Capital Partners, which is trying to convince the builder to accept a bond refinancing package. GSO’s plan would trigger payments on default insurance that it bought in the credit derivatives market.
Comments
Everyone is Incentivised to Fix Corporate Bond Liquidity – Global Capital
A European Commission study has confirmed what every corporate bond market participant already knew was true – the market has a liquidity problem. Everyone is responsible, the EC says, but no one has any incentive to fix the problem. They need to pull together to improve liquidity while there is time.
Comments
©2016 - Friday Newsletter. All Rights Reserved.