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MARKET NEWS
Scottish ‘vanity’ issuance project puts investors at risk from independence
The Scottish Government has confirmed plans to enter the bond market and issue £1.5bn of debt in 2026-2027.
Ben Ashby, chief investment officer at...
Milei’s victory saw Argentinian debt traders reach for rapid risk transfer
In late October 2025, Argentine President Javier Milei’s party, La Libertad Avanza, scored a decisive win, in the country’s midterm elections, a political triumph...
October credit futures’ activity cools after September busy roll month
In October trading volumes of credit futures at Eurex, Cboe global markets and CME cooled after the September roll month, but open interest continued...
Scotland rated AA/Aa3 ahead of debut ‘kilt’ bonds
Scotland has received its first standalone credit ratings from Moody’s and S&P Global, with both agencies placing the Scottish Government on the same high...
T. Rowe Price deploys Genesis’ primary bond custom tool
T. Rowe Price has gone live with Genesis global’s primary bond issuance (PBI) tool. It aims to standardise how its fixed income teams manage...
BoE issues stablecoin regulation proposals
The Bank of England has issued a proposed regulatory regime for sterling-denominated systemic stablecoins, revising two elements of policy proposed in a 2023 discussion...
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
Liquidnet: 39% of buy-side firms rethinking use of TCA
By Flora McFarlane.
Traditional transaction cost analysis (TCA) could be a casualty in the shifting landscape of pre- and post-MiFID II regulation, with 39% of...
FILS USA 2023: Fed has lost investors’ confidence in guidance
The Federal Reserve’s constant mistakes on forward guidance have lost the confidence of some buy-side firms in its ability to predict outlooks.
Speaking at...
Franklin Templeton bolsters SMA services
Franklin Templeton has selected IMTC for separately managed accounts (SMA) management.
“Over the next few years, we anticipate significant growth in the SMA space and...
Complex environment requires multi-model approach to data science
In fixed income, the most effective investment and trading models can be those built to withstand uncertainty. Speaking at the Fixed Income Leaders’ Summit...
Coalition Greenwich: 0% impact of ESG on bond trade execution – but is there...
According to new research from Coalition Greenwich, 0% of US-based buy-side bond traders report that environmental, social and governance (ESG) impacted their choice of...
Chapel joins BMO Capital Markets
Florian Chapel has joined BMO Capital Markets as a portfolio manager and tactical trader.
In the London-based role, he specialises in long/short credit and credit...
UK markets: “Volatility like I’ve never seen” but opportunity not seen since 1998
The impact of this week’s market volatility has varied drastically from one trading desk to another, according to the portfolios being traded for, but...
Research: Competition proves tough for O/EMS providers
Onboarding time shows the challenge facing EMS & OMS firms but algo trading increases demand
Two years ago Flextrade had a big pipeline of new...
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Why US and European exchanges face very different landscapes
While European authorities try to push more trading back onto stock exchanges, which have entered a period of consolidation, US regulators are angling for...
FINRA publishes annual regulatory oversight report
FINRA has published its Annual Regulatory Oversight Report, providing member firms with insights and observations to help strengthen their compliance programmes. New topics covered...
John Johnson joins UBS Asset Management
UBS Asset Management has appointed John Johnson as an execution trader.
Based in Chicago, he reports to Theodore Drury, regional head of trading, Americas.
Johnson has...
Implication of US bank downgrades on credit markets
Markets are truly feeling the economic pressures at present, with Moody’s downgrade to US financials on Monday following Fitch’s controversial downgrade of the US,...
