Bond ATS OpenBondX Preps Order Book, Real-Time Feed

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When the platform first goes live, currently scheduled for late February, OpenBondX will initially offer trading in high-yield bonds via an anonymous hybrid price discovery mechanism, dubbed RFFQ (Request for Firm Quote), which chief executive Alistair Brown says addresses the shortcomings of traditional indications of interest or request for quote models, where dealers may back away from supposedly firm prices before or after a trade has been executed─for example, if they had unknowingly submit

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