Copenhagen-based Saxo Bank is set to launch a new corporate and government bond trading solution, accessed through its multi-asset trading platform, SaxoTraderGO, in October this year.
In tandem with 40 bond market liquidity providers, Saxo will offer access to 5,000 investment-grade and high-yield corporate and government bonds across 20 currencies with the new solution.
Rather than deploying the incumbent request-for-quote (RFQ) model, the Saxo platform will connect users to the entire global bond market with bond orders directed to an optimized dealer auction among the group of liquidity providers. Saxo aims to provide client cost savings through the platform's competitive nature.
"Many providers who have attempted to address the issue of electronic bond trading have failed because they took the wrong approach by trying to copy equity style trading into a fragmented market and ignoring issues with liquidity and indicative prices," said Simon Fasdal, head of fixed income trading at Saxo, in a statement. "We have engineered a front end that will present clients with a trading experience that is similar to that which they are accustomed to in equity trading, offering speed of execution and transparency, and the technology to cope with the much more complex nature of fragmented bond markets in a simple manner."
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