The move will provide firm quotes for listed debt on iTBconnect, with twin goals of increased liquidity and lesser fragmentation.
With the connection to NYSE Bonds, traders using iTB are able to take further advantage of the portal's advanced order processing, including efficient post-trade straight-through processing (STP), and an interface that allows users to manage multiple trades simultaneously. "Connecting to NYSE Bonds marks the latest step on our mission to provide clients a high-quality selection of trading venues to choose from," says Michael Chuang, CEO of iTB.
NYSE, seeking to make further inroads in electronically-traded corporate bonds, likewise believes the tie-up will prove mutually beneficial.
"NYSE Bonds provides quotes in more than 2,000 debt securities, a number that continues to grow. As we increase the number of connections to our platform, more liquidity is brought to the electronic fixed income market, which benefits all market participants," adds Kevin Molloy, managing director for fixed income at NYSE Euronext.
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