MARKET NEWS
US trading revenue gains come with a risk warning
S&P Global analysts have warned that global banks’ financing of market makers is increasing profits but also ratcheting up risk – while US banks’...
Japan eyes on-chain JGB collateral
Mizuho, Nomura, the Japan Securities Clearing Corporation and Digital Asset have partnered to explore digital collateral management for Japanese government bonds (JGBs).
A proof-of-concept (PoC)...
MarketAxess veteran promoted in New York
Michael Baptista has been promoted to head of emerging markets North America sales at MarketAxess. He is based in New York.
MarketAxess reported a total...
Broadridge’s DLT repo volumes almost quadruple YoY
Average daily volumes on Broadridge’s distributed ledger repo (DLR) service reached US$354 billion in March, up 392% year-on-year (YoY) and 1% quarter-on-quarter (QoQ).
According to...
Bond Market Awards 2026: The Winners
Bond Market Awards 2026: The Winners
The Lansdowne Club, Mayfair, London — Thursday 16 April 2026 | Hosted by Dan Barnes and Josephine Gallagher.
For nearly...
US credit volumes set new record
Average daily notional volumes (ADNV) were up 10% year-on-year (YoY) to US$65 billion in March, beating a record seat in February. Average daily trade...
FEATURES
Eurex sees lit credit future liquidity migrate to dark
The Bloomberg / Eurex credit futures conference in mid-January 2026 had all seats taken and attendees standing in the aisles. That bursting enthusiasm was...
Human battles machine in JGB market
Participants say electronic trading of Japanese government bonds has reached an inflection point, but others counter that the death of voice trading has been...
Credit futures see OI and ADV increase more than sevenfold YoY
The adoption of credit futures as a mainstream credit trading vehicle is broadening across venues and currencies: US$ iBoxx total return based futures traded...
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...
PROFILES
RESEARCH
Bond traders predict data science/AI use explosion in 2026
The DESK’s Corporate Bond Liquidity Access Survey, supported by LTX, finds trading desks are on the cusp of change.
Buy-side traders see 2026 as a turning...
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Credit Spotlight
RISK & RETURN
FROM THE ARCHIVES
Direct price streaming will transform credit trading
Banks are providing corporate bond pricing feeds direct to clients shaping new potential execution paths. Dan Barnes reports.
Big investment banks including Morgan Stanley, UBS...
Mixed trading volumes in May for fixed income across platforms
Looking at the numbers from the major trading platforms in May, volumes appear to be recovering which will be positive for dealers, who saw...
Adaptive Auto-X creates choice in trade automation
Developing automation to suit a range of market environments has put MarketAxess’s clients ahead in the drive for more efficient trade execution and adaptable...
Liquidity costs ticking up as the heat rises
Summer is seeing the cost of trading in fixed income markets begin to tick up again, as bid ask spreads begin to widen, according...
All shook up: The effect of ELPs on the bond market
Redlap Consulting’s latest research paper, written by Rebecca Healey and Charlotte Decuyper, asserts that the pandemic has “rewritten the rulebook on trading”, and argues...
FSB: Greater transparency, all-to-all trading and clearing could reduce rates markets dislocation
A paper by the Financial Stability Board (FSB), which coordinates international regulatory efforts to promote effective policies, has reported that dealer blame uncertainty over...
Broadridge’s LTX platform launches buy-side advisory group
To further help develop corporate bond trading and advance market structure, Broadridge Financial Solutions has formed a new Buy-Side Advisory Group for LTX, Broadridge's...
Vohra leads securitised products at Barclays
Chetan Vohra has joined Barclays as global head of securitised products.
Based in New York, he reports to head of global markets Adeel Khan.
Barclays reported...
Reyes joins RBC CM
Noel Reyes has been named managing director and global head of multi-asset agency solutions (MAAS) product at RBC Capital Markets, effective May.
Based in New...
McKinsey expects greatest FRTB impact on larger European banks
By Flora McFarlane.
The Fundamental Review of the Trading Book (FRTB) will have a greater impact on larger European banks according to a new report...
RBC hires Sayers from Citi to lead HY sales
Joe Sayers has joined RBC Capital Markets from Citi as head of high yield and loan sales, based in London and reporting to Janet...
US Treasury volumes up, volatility down post-election
Average daily notional volume (ADNV) in US rates trading rose by 14% year-on-year (YoY) in November, reaching US$953 billion. This marks the most electronic...
