MTS Markets International, part of London Stock Exchange Group (LSEG), and BondCliQ, a new corporate bond market data solution, have partnered to provide BondCliQ users with data from MTS BondsPro all-to-all electronic trading platform for corporate bonds.
BondCliQ offers US institutional investors access to pre-trade and post-trade data for the institutional market. Pricing information from MTS BondsPro, an alternative trading system (ATS) will now be combined with transactional data and institutional quotes on the BondCliQ system to deliver a comprehensive real-time view of the entire US corporate bond market.
“This is a natural step towards establishing better price transparency by consolidating and centralising corporate bond pre-trade information,” says Chris White, chief executive officer, BondCliQ. “We believe this methodology will improve trader confidence which will ultimately enhance liquidity.”
In future, market participants will be able to consume MTS BondsPro pricing information while referencing institutional quotes through a single screen. This is designed to enable them to monitor their corporate bond portfolios more effectively and better understand the liquidity profile of the market.
MTS BondsPro’s market data is sourced from a community of approximately 300 broker dealers and 350 buy-side clients participating in its anonymous all-to-all order book. The platform connects markets across the US, Europe and Asia with a 22-hour trading day, providing traders access to over 20,000 bonds with live prices daily.
White says, “Truly understanding where the best bid and offer reside across different market makers is incredibly valuable to anyone serious about maximizing their returns in the corporate bond market. This partnership makes it easier for market participants to understand broad market movements and sector-wide activity while generating granular CUSIP-level insights, all in a traditionally opaque market.”