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MARKET NEWS
US credit traders watch volumes, e-trading grow
Average daily notional volumes (ADNV) in US corporate bonds have been rising steadily since 2022, already hitting US$49.8 billion year-to-date. According to asset managers...
Sutherland promoted at Schroders
Neil Sutherland has been promoted to head of US fixed income trading at Schroders.
He is based in New York.
Schroders reported £823.7 billion in assets...
Walls, Sekora take senior FCA roles
Simon Walls’s role as executive director of markets at the FCA has been made permanent, after holding the position on a temporary basis since...
Trumid triumphs in tricky April credit e-trading market
US electronic credit trading volumes fell off a cliff in April for Tradeweb and MarketAxess, with average daily volumes (ADV) falling by 14.5% and...
Parmar promoted at CIBC
Shivani Parmar has been promoted to a repo trading role within CIBC Capital Markets’s global credit financing team.
She is based in London.
In Q1 2026,...
ETS scraps out-of-hours model, Ediphy drops legal case
The UK bond consolidated tape saga appears to be cooling down, as Etrading Software irons out its support services and Ediphy backs down from...
FEATURES
The accelerating boat to China: A faster route for traders
China offers investors a wealth of opportunity, with the caveat that markets are not fully open. Where the authorities are cautious about changes to market...
Eurex sees lit credit future liquidity migrate to dark
The Bloomberg / Eurex credit futures conference in mid-January 2026 had all seats taken and attendees standing in the aisles. That bursting enthusiasm was...
Human battles machine in JGB market
Participants say electronic trading of Japanese government bonds has reached an inflection point, but others counter that the death of voice trading has been...
Credit futures see OI and ADV increase more than sevenfold YoY
The adoption of credit futures as a mainstream credit trading vehicle is broadening across venues and currencies: US$ iBoxx total return based futures traded...
PROFILES
RESEARCH
Trading Intentions Survey: Data and protocol innovation are the battlegrounds for...
The 2026 Trading Intentions Survey has found that data is the most hotly-contested field in supporting corporate bond trading today, while analysis of trading...
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FROM THE ARCHIVES
Bank of England launches SWES test for bond markets
The Bank of England (BoE) has published the latest phase of the System-wide Exploratory Scenario (SWES) with bank and non-bank participants provided a hypothetical...
Etrading Software and Artis Holdings’ electronic loans platform is live
Capital markets system provider Etrading Software, and electronic loans technology specialist Artis Holdings, have completed the opening bids wanted in competition (BWIC) process via...
Mandatory central clearing: More resilient treasury market expected
Mandatory central clearing is expected to make the market safer and more resilient. But there is a catch. The new regulations – set to...
TS IMAGINE: How the quiet fixed income EMS revolution is changing bond markets as we know them
By Spencer Lee, Chief Markets Officer, TS Imagine
Fixed income markets are more complex than ever as the fixed income universe expands rapidly. The quest...
Competition in credit futures heating up with ICE/MarketAxess/MSCI launch
Intercontinental Exchange's (ICE) has launched four new corporate bond index futures, designed to answer institutional investors' appetite for credit futures.
The product launch comes after...
Focus resources on fixed income TCA, industry urged
By Joel Clark.
Market participants and technology providers must focus their intelligence and resources on developing robust transaction cost analysis (TCA) for fixed income, in...
Pre-trade data: The next generation
The first generation of pre-trade analytics are consolidating; the second generation of price and liquidity providers such as Bondcliq and Katana will need to...
Mizuho’s DCM revenues break into global top ten
Global debt capital markets (DCM) revenues remained almost identical year-on-year (YoY) for the first nine months of 2025, with Mizuho the only new entrant....
2022: Big primary, smaller secondary?
Despite the expectation of rising rates across markets, S&P Global Ratings Research are predicting that issuance of new bonds across markets will not see...
Insight & Analysis: Municipals’ primary and secondary markets hit records
According to Sifma data, municipals’ primary markets issued a record US$162.8 billion of new debt in the second quarter of 2025, eclipsing the previous...
ASIC fines ANZ record AUD 240mn over “grubby” unconscionable conduct
Australia and New Zealand Banking Group (ANZ) has once again been fined by the Australian Securities and Investments Commission (ASIC). The regulator has set...
FCA fines former BAML bond trader for spoofing
By Flora McFarlane.
The UK’s Financial Conduct Authority (FCA) has fined a former Bank of America Merrill Lynch bond trader £60,090 for engaging in market...
























































