Primary markets: Give me some credit: Outlook for bond issuance in 2023
New issues provide liquidity and price points for bond traders; we assess the prospects for the year ahead.
As the cost of borrowing continues to...
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...
CMSA – The drive to change industry dialogue in corporate bond markets
To create a wider dialogue around industry change, the Credit Market Structure Alliance (CMSA) is building an event with a democratic agenda.
The DESK: Why...
On the Desk: Engineering better trading
Honing the trading function is an art; it requires an engineer’s eye for improving systems but a leader’s eye for putting the team first.
How...
The greatest surprises in bond trading of the last decade
The DESK asked interviewees from its ‘On The DESK’ profile interviews of the last ten years to assess the most surprising changes they had...
Headache or opportunity?
The UK is carving out its own path in financial services. Gill Wadsworth assesses the divergent gameplan the government is developing.
In May 2022, the...
Credit Spotlight: How clear can pre-trade get?
Pre-trade transparency is a nirvana for over-the-counter markets, particularly corporate bond trading, which lack the publicly displayed prices of the exchange-traded market.
Unless it...
Analysis: Is credit trading really so close?
Last week we reported on the battle for credit trading between keen rivals MarketAxess and Tradeweb. During this reporting, we noted that Morgan Stanley...
Market disruption spreads beyond Ukraine and Russia
Traders are reported that liquidity across developed and emerging markets is being hit, with trades taking far longer to complete and price formation suffering...
The Book: Who will drive reform in primary markets?
Primary market practices are under pressure to change, however the urgency and direction given for adaptation are often skewed by specific market participant groups.
The...
