If A Tree Falls in the Forest: Illuminating the True Costs of Corporate Bond Electronic Trading – ViableMkts
January 26, 2017 \
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Full Article: ViableMkts
It is very surprising that as buy-side institutions laud corporate bond electronic trading, very few fixed income asset managers know the true details of their transaction costs. In other modernized markets like equities, asset managers must be intimately aware of transaction cost details for electronic trading for two crucial reasons
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Pricing (Corporate Bonds) in the Dark – Risk Magazine (free download)
Asset managers claim they have an information edge over dealers when it comes to (corporate) bond pricing. How are sell-side players countering the threat?
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Wall Street Startup Backed by Soros and Thiel is in Talks to do a Big Deal – Business Insider
Electronifie, a bond trading platform led by former Goldman Sachs trader Amar Kuchinad, is in exclusive talks to be acquired by TruMid
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‘Trust But Verify’ in Bond Market – Bloomberg
The bond market is “closed off to you and me” and often involves shady practices and less-than-truthful information, Butswinkas said. Former President “Ronald Reagan’s saying ‘trust but verify’ would be an understatement,” he said.
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Tensions Build Over Bond Allocations and Pricing Feedback – Overbond.com
Bond investors and syndicate bankers are growing increasingly frustrated with each other as the already thorny topic of allocations and how to reward investors for their feedback is being further poisoned by new regulations.
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Rise of Bond ETFs Mean Little Mourning for the Middlemen – FT
ETFs have become the easiest way for US and European investors to trade bond risk without a middleman. The bond ETF is adding liquidity, sharpening price discovery, and reducing pressure on banks’ balance sheets, especially under stress
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Sellside to join Liquidnet as they warm to fixed income fintech (Reuters)
Electronic trading venue Liquidnet will sign sellside firms to its fixed income platform in the next few weeks, a significant shift from a buyside only model as banks become more receptive to the all-to-all concept.
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ICAP’s Spencer Reboots Market Stalwart With Bet on Digital – Bloomberg
The interdealer broker is transforming itself from a noisy bazaar into a streamlined financial technology firm called NEX Group. The company is expanding beyond its traditional banking customers to attract pension funds, asset management firms and even corporate treasurers to its electronic trading platforms.
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Trump’s Transition Team Pledges to Dismantle Dodd-Frank – Bloomberg
“The Financial Services Policy Implementation team will be working to dismantle the Dodd-Frank Act and replace it with new policies to encourage economic growth and job creation.”
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Euronext and Algomi Look to Deepen Bond Liquidity – Markets Media
Dealers will be able to access the trading interface either directly through their existing Algomi technology or their stand-alone systems. The MTF will use algorithmic smart matching processes to create an auction between dealers to improve liquidity and search for best execution.
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