MARKET NEWS
Tradeweb and MarketAxess beat TRACE growth in November
US electronic credit activity firmed in November. On FINRA’s TRACE tape, combined US investment-grade and high-yield average daily volume (ADV) rose to US$57.8 billion,...
Cboe’s credit futures activity and OI leapfrogs CME and Eurex in November
In November, Cboe’s US dollar iBoxx iShares credit futures set new records with US$455 million in average daily volume (ADV) and US$1.95 billion in...
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$12 million Series A funding round, with Lord Abbett joining its ranks of investors.
The round was led by fintech-focused venture...
Simpler bond liquidity assessments diverge on either side of the Channel
British and European authorities are actively aiming to simplify bond liquidity and transparency regimes, but divergent reporting deferral rules for rates and credit, as...
Justesen joins Muzinich
Jakob Justesen has joined Muzinich as a fixed income trader. He is based in London.
Privately owned investment firm Muzinich specialises in public and private...
FEATURES
Credit futures see OI and ADV increase more than sevenfold YoY
The adoption of credit futures as a mainstream credit trading vehicle is broadening across venues and currencies: US$ 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
Industry viewpoint: Forging fixed income’s future
How technology is enabling data-driven execution and analytics.
In recent years, the electronification of fixed income (FI) markets has been followed by the development of...
The Book: European HY issuance proceeds spike in Q3
European HY bond issuance year-to-date has generated €121.3 billion in proceeds, the second highest results in AFME’s records. The figure fell just below 2021’s...
Tradeweb to acquire US treasury algo execution firm r8fin
Tradeweb, operator of electronic marketplaces for rates, credit, equities and money markets, is set to acquire r8fin, a technology provider that specialises in algorithmic-based...
Eric Heleine leaves Groupama AM, joins AXA IM
Eric Heleine has joined AXA IM as head of electronic trading and data, effective 1 December. He reports to Yannig Loyer, global head of...
Overbond partners with Finsemble to support desktop interoperability
AI-based trading tool provider, Overbond, has announced a partnership with desktop interoperability specialist, Finsemble, to support integration of Overbond’s services into trading workflows.
"At our...
OpenYield opts for RBC Clearing & Custody
Bond marketplace OpenYield has joined the RBC Clearing & Custody platform, the first alternative trading system (ATS) to do so.
OpenYield, launched in 2022, provides...
Andrew Bresler to lead Saxo UK
Online trading and investment firm Saxo has appointed Andrew Bresler as CEO of its UK business, effective 3 June. He replaces interim CEO Simon...
JP Morgan exec appointed in Broadridge hiring spree
Munish Gautam has joined Broadridge’s Trading & Connectivity Solutions (BTCS) business as global head of trading platforms product management.
Based in London, Gautam reports to...
TP ICAP in talks to buy Liquidnet
Interdealer broker TP ICAP is in advanced discussions to take over block-trading equity and bond trading market operator Liquidnet for US$700 million.
Liquidnet has a...
Investor Demand: Barclays study challenges FCA proposals on retail access to corporate bonds
A detailed analysis by investment bank Barclays raises questions about the practical impact of regulatory measures to increase access to corporate bond markets, suggesting...
MiFID II: What could go wrong
Keep an eye on these potential points of failure, writes Dan Barnes.
For trading desks the impact of the new Markets in Financial Instruments Directive...
Positive reception of FCA consolidated tape plans keeping pace with Europe
A consultation on plans for a consolidated tape of fixed income prices, announced by the UK’s Financial Conduct Authority (FCA), has drawn support from...
