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Fixed Income Trading: New venues

A simple question came up recently in a conversation – how many new Fixed Income trading venues are there?  I could not think of anywhere th...

Sunday, 20 December 2015

If not banks, then who?

Buy-side traders, cast your thoughts back to the mid 2000s, before Lehman Brothers failed.
Think back to trading good old fashioned corporate bonds.  It was pretty simple, anything small could be traded through an electronic platform.  

Friday, 11 December 2015

Third Avenue, the next crisis in the Bond market and Liquidation Risk...

This post will quote extensively from an excellent Bloomberg article entitled "Third Avenue Blocks Redemptions From Credit Fund Amid Losses"
The main thrust of the article is that "$788 million mutual fund is blocking clients from pulling their money so its holdings can be liquidated in an orderly fashion...David Barse, Third Avenue’s chief executive officer, said blocking redemptions was necessary to avoid fire sales."

Blog thieves

One of the most quoted blog posts on here is Fixed Income Trading: New venues which has been quoted at various conferences and on the internet.  That's perfectly fine yet a quick google of the opening sentence "A simple question came up recently in a conversation – how many new Fixed Income trading venues are there?" shows a considerable number of websites that have simply cut and pasted the entire blog post with no attribution.  Worse is that they all seem to be pretty dodgy sites with a mountain of pop-up windows and links to gambling sites and porn...