MARKET NEWS
Jefferies increases credit focus with Hildene acquisition
Jefferies has acquired 50% interest in Hildene Holding Company, parent company of credit-focused Hildene Capital Management and its affiliates.
Hildene Capital Management holds more than...
Lord Abbett invests in IMTC
IMTC has closed a US$12 million Series A funding round, with Lord Abbett joining its ranks of investors.
The round was led by fintech-focused venture...
Simpler bond liquidity assessments diverge on either side of the Channel
British and European authorities are actively aiming to simplify bond liquidity and transparency regimes, but divergent reporting deferral rules for rates and credit, as...
Justesen joins Muzinich
Jakob Justesen has joined Muzinich as a fixed income trader. He is based in London.
Privately owned investment firm Muzinich specialises in public and private...
FIM Partners appoints emerging market debt trader
FIM Partners has hired Nicholas Nellis as a portfolio manager and trader focused on emerging-market debt.
He joins the London and Dubai-based investment manager after...
UK bond CTP suspension lifted
Etrading Software can finally sign the UK bond consolidated tape provider contract, with Ediphy consenting to the High Court suspension being lifted.
CEO Chris Murphy...
FEATURES
Credit futures see OI and ADV increase more than sevenfold YoY
The adoption of credit futures as a mainstream credit trading vehicle is broadening across venues and currencies: US$ iBoxx total return based futures traded...
Trade size growth undercuts European bond market ‘equitification’
Since 2023 European corporate bond markets have seen trades size grow, as trading platforms report increasing volumes
“If we break down electronic trading growth in European...
The pretenders, and kingmakers, to the bond throne
Dealers are backing several new trading platforms who are fighting major incumbents for market share.
In the bond market, the trading platform landscape has been...
Declaration of dependence
US president to oversee financial institution regulation amid deregulation drive.
Executive orders signed by US president, Donald Trump, have given him oversight of all US...
PROFILES
RESEARCH
Bond traders predict data science/AI use explosion in 2026
The DESK’s Corporate Bond Liquidity Access Survey, supported by LTX, finds trading desks are on the cusp of change.
Buy-side traders see 2026 as a turning...
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Credit Spotlight
RISK & RETURN
FROM THE ARCHIVES
Portfolio Trading and price discovery in US IG and HY markets
By Jessica Hung and Chisom Amalunweze
In our PT vs RFQ List White Paper, we found that PT provides superior execution outcomes for illiquid bonds,...
Italian engineering
The longstanding debt market in Italy offers a good source of insight into the impact of changing rules around best execution and transparency in...
Origination: S&P prices major senior note issuance
S&P Global has priced a total US$10 billion in senior notes.
The offering is split into US$600 million 4.250% senior notes due 15 January 2031,...
A very clear contrast in trading volumes as sanctions bite
The second chart this week shows trading in Russian government bonds which fell off a cliff at the start of March, triggered by an...
LSEG signs long-term strategic partnership with Barclays
LSEG (London Stock Exchange Group) and Barclays have signed a new multi-year strategic partnership. Building on a longstanding existing relationship, the agreement includes a...
Market Structure: New risk and liquidity in the US Treasury market
Significant changes in counterparties and market structure have transformed US Treasury market activity.
Dealer-to-client trading has overtaken interdealer markets in volume traded according to analyst...
EC suspends best execution reporting which is “not read at all”
The European Commission (EC) has adopted a Capital Markets Recovery Package, as part of the Commission's overall coronavirus recovery strategy which includes increased leniency...
US vs Europe: The transatlantic divide for corporate bond traders
The DESK examines the different sizes, protocols and feedback traders can use on each side of the Atlantic to execute corporate bond orders.
While US...
Charles Taylor Investment Management selects Bloomberg OMS
Charles Taylor Investment Management (CTIM), the fund management business of Charles Taylor, has adopted Bloomberg’s Asset & Investment Manager (AIM) and PORT Enterprise systems....
ChatGPT: What are traders asking in Nashville?
Artificial intelligence (AI) will be a major topic of conversation at the Fixed Income Leaders’ Summit (FILS) in Nashville this year, with its potential...
MarketAxess reclaims electronic credit trading crown in quiet market
US electronic credit activity eased sharply in August. On FINRA’s TRACE tape, combined US investment-grade (IG) and high-yield (HY) average daily volume (ADV) came...
Bloomberg, MarketAxess and Tradeweb sign joint venture agreement
Bloomberg, MarketAxess and Tradeweb have signed a joint venture agreement, to establish an independent company for the purpose of participating in the public procurement...
