The interplay between the cash and derivative credit markets
For investors, the derivatives market is a potentially a rich source for investment returns and risk management. It can also be a valuable source...
Could a secondary market work in private credit?
There is very limited access to secondary trading in private credit. Given the direct exposure to creditors, this might present a liquidity bottleneck for...
Tourist traps in the credit market
Dipping in and out of credit markets can reduce the value of investments for the non-specialist, but also for more experienced investors.
In their 2014...
Decision trees (and how to climb them)
Making the working lives of credit traders better is The DESK’s mission. Traders are time poor, and systematising trading allows them to free up...
Measuring implicit costs and market impact in credit trading
Evaluating the quality of a bond trade is made complex by the multiple dynamics which impact quality, and the frequent absence of data to...
Credit: The big takeaways from FILS Europe
In a market ‘obsessed’ with yield pick up, seeing considerable inflows into bond funds, corporate debt is getting bought up en masse. While this...
Best practice in credit TCA measures
The need to optimise execution quality is increased as buy-side firms seek to optimise all-to-all trading, and therefore price making, in credit. Transaction cost...
How big can systematic trading get in credit?
Investors can achieve significant advantages though systematic trading, such as reduction of trader/investor bias, and responsiveness to signals. However, there are limits to the...
Getting the most out of derivatives in credit
Bond investing has become more exciting in the past two years than in the previous ten, with interest rates and central bank activity fire-fighting...
Do regulators understand ‘best execution’ in corporate bond markets?
What is best execution in bond markets?
In fixed income a best execution process matches up trade metrics to the investment parameters.
“Trading is simply how...
