24 jun: Valuta: Norske kroner i svageste niveau siden december 2010
24 jun: Topdanmark: If får EU til at undersøge ejerandel
24-06-2013 16:31:00

Bonds.com Flips To Live Pricing For Bank Debt, Scraps Quotes

Relateret indhold

By Katy Burne

A bond-trading platform operated by Bonds.com Group Inc. (BDCG) began requiring participants to buy and sell debt securities on live and executable prices Monday, a departure from the market's more-routine practice of using indicative quotes.

The move by Bonds.com is a break with a long tradition where bonds have traded by appointment, and is another step on the continuum towards making bonds trade continuously like equities, although this is only expected to be possible for the most actively traded securities. Thomas Thees, CEO of Bonds.com, said he would flip the switch to live prices on 14 bonds issued by seven financial-firm borrowers as an experiment.

For decades, bond trading has been primarily over the phone and shielded from the public spotlight that shines on stock markets.

But recent gyrations in the bond markets have jarred secondary trading, luring dealers and investors away from the shadows and increasingly onto open, electronic platforms.

"We are trying to move the market forward and this is what we are hearing people would really like to see in the advancement of [bond] market structure," said Mr. Thees, referring to live and executable prices.

At present, there is a speed bump to most corporate bond trading. A buyer will receive a quoted price, but that price can move away from them by the time the trader calls a dealer, setting off a period of negotiation before the trade is booked.

Electronic bond networks primarily give traders a last look at prices, meaning many transactions will not be completed. Moving to live prices will remove that "last look" function on Bonds.com, meaning dealers will not be allowed to back away from prices in the 14 relevant securities trading on live prices for any trades up to $500,000.

The issuers whose bonds will flip to the new format on Bonds.com are J.P. Morgan Chase & Co. (JPM), General Electric Capital Corp., Morgan Stanley (MS), Citigroup Inc. (C), Goldman Sachs Group Inc. (GS), Bank of America Corp. (BAC) and Wells Fargo & Co. (WFC).

Write to Katy.Burne@dowjones.com

(END) Dow Jones Newswires

June 24, 2013 10:31 ET (14:31 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Novo: EMA-udvalg anbefaler markedsføringstilladelse til Refixia - NY

24-03-2017 13:31:36
Udvalget for humanmedicinske lægemidler (CHMP) ved Det Europæiske Lægemiddelsagentur (EMA) har tildelt Novo Nordisks Refixia en positiv udtalelse og anbefaler en markedsføringstilladelse.Det skriver Novo Nordisk i en fondsbørsmeddelelse.CHMP anbefaler en markedsføringstilladelse til Refixia til unge og voksne med hæmofili B. Til grund for anbefalingen ligger resultater fra udviklingsprogrammet par..

Novo/Exane: Kursmålet skæres til 270 kr.

24-03-2017 10:17:22
Den franske storbank Exane BNP Paribas skærer kursmålet for aktien i Novo Nordisk til 270 kr. fra 295 kr. Anbefalingen er uændret "outperform", viser data fra Bloomberg.Novo-aktien falder fredag 0,4 pct., eller 1 kr., til 233,20 kr. Det dækker dog over en stigning, da aktien ikke længere handles inklusive retten til et udbytte på 4,60 kr./ritzau/FINANSJakob Dalskov +45 33 30 03 35 Ritzau Finans, E..

Aktier/tendens: Mulighed for mere gas til Mærsk i ventet rødt C20

24-03-2017 08:31:54
Det danske aktiemarked kan fredag blive præget af små udsving med en lille overvægt af negative fortegn.A.P. Møller-Mærsks B-aktie var uændret efter torsdagens handel og blev handlet til 11.500 kr. Aktien kan dog gå fra grå til grøn fredag, da der er potentielt gode nyheder til det danske konglomerat.Efter en Nordsø-aftale, der kan redde det ellers lukningstruede Tyra-felt, skriver Jyllands-Posten..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

Bank of America Corporat.. 23,12 0,2% Stigning i aktiekurs
General Electric Company 29,72 0,3% Stigning i aktiekurs
Wells Fargo & Company 55,83 1,1% Stigning i aktiekurs
JP Morgan Chase & Co 87,29 -0,1% Fald i aktiekurs
Citigroup Inc 58,07 0,0% Stigning i aktiekurs
Morgan Stanley 42,46 -0,3% Fald i aktiekurs
Goldman Sachs Group Inc .. 228,41 -1,5% Fald i aktiekurs
General Electric 27,48 -0,8% Fald i aktiekurs
General Electric Company.. 27,56 45,0% Stigning i aktiekurs
Bank of America Corporat.. 23,05 64,6% Stigning i aktiekurs
Jpmorgan Chase & CO COM .. 87,90 -0,3% Fald i aktiekurs
GEN Elec 29,25 0,3% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
26. marts 2017 00:36:36
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170324.2 - EUROWEB1 - 2017-03-26 00:36:36 - 2017-03-26 00:36:36 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x