Dealer engagement in multi-dealer platforms is growing
Sell-side firms appear to be increasing their engagement with corporate bond trading platforms. The narrative of increased bilateral trading between dealers and clients...
Reviewing 2022: European credit trading costs have doubled
There have been an enormous number of factors shaking up bond trading this year. From fixed income fundamentals like rapidly rising interest rates from...
All I want for Christmas, is trading analytics
Traders would do well to run close analysis over their European trading activity this month, as data from MarketAxess Trax, which tracks trading across...
TRACE recalibration exposes double counting
An adjustment to bond trade reporting to TRACE, the US post-trade reporting tape for fixed income, has cut the volume of trades arranged via...
Breaking blocks
Electronic trading is certainly on a growth spurt – Coalition Greenwich reports e-trading was 46% volume across all assets in 2021 – but this...
Evidence of trading efficiency from electronification
This week we look at the growth of electronic trading in the US fixed income markets, and the potential it holds to reduce time...
The cost of European liquidity is falling, does e-trading beckon?
Good news for buy-side traders in European credit markets. Looking at MarketAxess Trax, which tracks trading across multiple markets and counterparties, bid-ask spreads are...
Are average trade sizes really falling in the US?
Earlier this year we noted that average trade sizes were down considerably on 2022, but being wary of mean reversion, we wanted to revisit...
Same trading costs, different year
The new year has seen trading volumes drop back to a similar level as seen in early January 2022, but in European credit, bid-ask...
What FINRA’s trade reporting changes tell us about consolidated tapes
Understanding the difference between commercial and public data offerings is crucial for data users. A good example of this difference can be found with...
