Fixed Income - TradeCross®
23 March 2015
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TradeCross : The First Pan-european Anonymous All-to-All Crossing Network Designed by the Buy-side
The corporate bond market is currently facing an unprecedented liquidity crisis that originates, among other factors, from a significant reduction in the market-making capability of the traditional sell side institutions. New regulatory constraints have put major strains on dealers' capabilities to hold large fixed income securities inventories for extended periods of time.
As a result, it is increasingly difficult for investment managers and dealers alike to access liquidity and execute their trades. Faced with these structural changes, Fixed Income investors have taken the lead while a number of Buy-side firms have gotten organized by setting up TradeCross. This innovation will develop and explore new models to answer their needs at a time when bond trading is moving rapidly towards an all-electronic, all-to-all market structure.
What makes TradeCross different:
1. We are an independent technology provider supported by the Buy-Side2. We have 15+ years of experience in EMS/OMS integrations3. Trading is totally anonymous4. We support both firm orders and negotiation5. TradeCross block service starts at €1 million, our central order book is for smaller size6. Negotiate only with those that are within your size and price tolerance7. Trade with brokers that you have approved8. We cover ALL bonds and convertible bonds. ALL Currencies and countries9. Show your interests only to your chosen counterparty types.10. Best Execution – Full public and private TAPE and access to our Fixed Income TCA.
"Access to ample liquidity in the current market environment is challenging. Like many Buy side we are researching additional channels to complement the current coverage model in order to locate and execute trades efficiently. The TradeCross approach is innovative and makes it a viable partner for our needs. The initiative is backed by TradingScreen's recognized experience and technical expertise in this sphere",
Brett S. Chappell, Head of Fixed Income Trading at Nordea Investment Management, and Chairman of the TradeCross initiative
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