Market structure: The alternatives in market making
The DESK profiles five of the major electronic liquidity providers.
Given the strains on market making in fixed income, it is vital that buy-side desks...
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...
Front-to-back OMS providers change strategy
Dan Barnes investigates why big OMS providers are partnering with smaller players.
In 2018, following the acquisition of Charles River Development by State Street, it seemed...
How to innovate in a volatile bond market
When trading teams are fully stretched it is hard for them to support innovation and change, yet Dan Barnes finds that the two things...
Michelle Neal: On taking great responsibility
Having managed the market divisions at several top-tier financial institutions, Michelle Neal is now responsible for supporting the most significant fixed income market in...
Research: Analytics use in trading workflow increases by 72% over three years
Effectiveness for reporting and desk performance assessment improves year-on-year.
The DESK’s latest research into trading analytics has found its use growing within the trading workflow,...
Trading: How to find liquidity in a drought
When market makers offer no bids for corporate bond trades, buy-side traders need to get creative.
Dealers are the main source of liquidity in the...
Market structure: Is e-trading plateauing?
The overall pace of bond market electronification is slowing, but trading evolution is not linear.
Electronic trading has grown as a proportion of total trading,...
Low issuance volumes may impact the momentum to reform primary markets
Platforms keen to emphasise longer term commitment to electronification and greater automation.
Multiple platforms have been launched to drive increased efficiency in managing bond issuance,...
Are US dealers still offsetting credit trading risks?
As US banks see credit positions turn negative, and interdealer market volumes remain flat, The DESK asks how they offset risk as their credit...
