Published quarterly, The DESK provides buy-side traders with precise detail on the macro-drivers, events and plans that are shaping liquidity and price discovery in fixed income markets. Contact us for your copy.

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For the second year in a row, the ‘Trading Intentions Survey’ asks buy-side traders about which liquidity aggregation systems they currently use for trading corporate bonds, which they preferred, and which they planned to use.

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We need to talk about bonds. Liquidity has been sucked out of the credit markets by regulation. It can only be replaced by a structural change in the secondary market, or a change to the issuance model in the primary market.

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On the desk : Jim Switzer : AllianceBernstein

JIM SWITZER: ON TAKING CONTROL. The AllianceBernstein credit trading desk has been refocused to handle market fragmentation and the withdrawal of dealer liquidity, giving its traders a commanding presence in tempestuous markets.   Jim Switzer is the New York-based global head of credit trading at AllianceBernstein. He joined the firm in 2011 and manages 12 credit

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On the desk : Juan Landazabal : Deutsche Asset Management

ON TRADER EVOLUTION. Juan Landazabal, global head of Fixed Income and Foreign Exchange Trading at Deutsche Asset Management describes the internal and external pressures that are shaping the role of head trader. Juan Landazabal is global head of Fixed Income and Foreign Exchange Trading at Deutsche Asset Management. His team includes approximately 25 fixed income traders/sector managers

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Adam Conn made head of trading at Baillie Gifford

Adam Conn made head of trading at Baillie Gifford. Adam Conn, head of dealing at Baring Asset Management has been appointed as head of trading at Baillie Gifford. Conn will replace Chris Barker, who took over the position from Robert Blaikie in April 2015, after Blaikie retired. Conn has been an active contributor to the FIX community,

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Robinson and McGrath leave Schroders

Global head of trading, Rob McGrath, and head of fixed income trading, Nick Robinson have left their positions at buy-side firm Schroders , reportedly as a result of a restructuring of fixed income and currencies trading. McGrath, who joined Schroders in 2002, has apparently moved into fintech advisory but was not immediately available for comment. Robinson, who

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Brooksbank leaves SSGA as head of Trading, EMEA

Dale Brooksbank has left his role as managing director and head of trading for Europe Middle East and Africa (EMEA) at State Street Global Advisors (SSgA). Brooksbank, who joined SSgA in 2006 from Legal and General Investment Management, could not immediately be reached for comment. He was responsible for managing day-to-day trading and execution capabilities across

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Lead feature : Trading for retirement funds : Dan Barnes

PENSION FUNDS TAKE ON TRADING. When retirement funds bring fixed income investment in-house, they have to re-engineer the trading process. Dan Barnes finds out how. Many pension funds are weighing up the viability of bringing investment processes in-house, including fixed income. However a fund bringing any aspect of fixed income investment in-house has to assess

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Technology : FIXing issuance : Lynn Strongin Dodds

PRIMARY CONCERN. Efforts are underway to automate debt offerings and give the buy side greater control. Lynn Strongin Dodds reports. Initial public and debt offerings can be messy affairs, subject to human error and frailty thanks to the largely manual processes. The UK’s Financial Conduct Authority (FCA) is currently investigating the equity primary market for

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Derivatives : Regulation Automated Trading : Lynn Strongin Dodds

REG AT – THE FINISHING LINE. Lynn Strongin Dodds asks whether the CFTC can get the bill passed before the election and what its impact will be if it does. The clock is ticking for Regulation Automated Trading (Reg AT), as the US presidential election moves ever closer. The Commodity Futures Trading Commission (CFTC) is

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Corporate bonds : Missing liquidity

ZEN AND THE ART OF LIQUIDITY MAINTENANCE. Regulators cannot find the liquidity problem that traders see daily, threatening to set rules for game ‘A’, when game ‘B’ is played out in the markets. Chris Hall reports. Regulators and market participants are at loggerheads over the liquidity problem. Defining liquidity, more than any other characteristic of the financial markets,

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Government bonds : US Treasury review : Anna Reitman

BUY-SIDE CALLS FOR REFORM IN US TREASURIES. Treasuries market under the spotlight as US finance ministry takes stock in one of the most sweeping reviews of its kind. Anna Reitman reports. The US Treasury’s market structure review saw a call from buy- and sell-side firms to extend the existing rules to include high-frequency trading (HFT)

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