TradingScreen, Long-Only AMs Launch Corporates Crossing Network
Trading venue is the latest to join bonds fray.

TradeCross will enable participants to discover and unlock hidden liquidity from buy-side inventories, along with other new sources of liquidity to complement the traditional trading approach for credit products.
The new platform covers all segments of the credit market—investment grade, emerging markets and high yield—and offers buy-side traders the ability to anonymously trade blocks while respecting their sell-side relationships and STP processes.
40 More Set to Join
The software is currently being deployed or already installed at several early-adopter firms.
Among the initial group of asset managers involved are Nordea Asset Management, the Netherlands' PGGM, and Nataxis. An additional 40 asset managers have pledged their commitment to participate in Phase II, which will begin shortly after the launch.
The credit market has faced more challenges in the past five years than at any other time, with a very high growth of new issuance and a drastic reduction of the intermediation capital committed to liquidity. Today, new tools are necessary for the buy-side trader in order to address this harsh rebuild of the market, and TradingScreen’s innovative record positions us well to resolve these challenges for banks, buy sides, and exchanges alike.
“The TradeCross initiative is unique as it is built with scalability and the needs of the buy side in mind,” says Brett Chappell, head of fixed income trading at Nordea Investment Management. “We hope that this easy-to-use and integrated platform, focusing on the needs of the asset management community, will allow it to become a main driver in setting the standard for fixed income trading in the future.”
PGGM’s head of trading, Patrick Fleur, adds that the Dutch firm expects immediate advantages as an early adopter.
“PGGM believes TradeCross represents a step toward a more transparent and efficient market with better liquidity, leading to lower costs for our clients," he says. "It should, therefore, contribute to a more sustainable financial system since it is no longer using the increasingly scarce balance sheet of investment banks. This is beneficial to our clients along with pension fund participants.’’
Rebuild Under Way
Philippe Buhannic, CEO of TradingScreen, says the collective effort on TradeCross has highlighted the priority buy-side firms see in reshaping the corporates market to reflect its shifting liquidity.
“The credit market has faced more challenges in the past five years than at any other time, with a very high growth of new issuance and a drastic reduction of the intermediation capital committed to liquidity. Today, new tools are necessary for the buy-side trader in order to address this harsh rebuild of the market, and TradingScreen’s innovative record positions us well to resolve these challenges for banks, buy sides, and exchanges alike."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
The TNS-Radianz deal hints at underlying issues in trader voice
Waters Wrap: As part of its cost-cutting program, BT shipped its Radianz unit to TNS, but the deal didn’t include its Trading & Command trader voice property. Anthony found that interesting.
OEMS interest sputters
Combined order and execution management systems once offered great promise, but large buy-side firms increasingly want specialization, leaving OEMS vendors to chase smaller asset managers in a world of EMS consolidation.
FactSet adds MarketAxess CP+ data, LSEG files dismissal, BNY’s new AI lab, and more
The Waters Cooler: Synthetic data for LLM training, Dora confusion, GenAI’s ‘blind spots,’ and our 9/11 remembrance in this week’s news roundup.
DORA delay leaves EU banks fighting for their audit rights
The regulation requires firms to expand scrutiny of critical vendors that haven’t yet been identified.
Etrading wins UK bond tape, R3 debuts new lab, TNS buys Radianz, and more
The Waters Cooler: The Swiss release an LLM, overnight trading strays further from reach, and the private markets frenzy continues in this week’s news roundup.
Fintech powering LSEG’s AI Alerts dissolves
ModuleQ, a partner and investment of Refinitiv and then LSEG since 2018, was dissolved last week after it ran out of funding.
Halftime review: How top banks and asset managers are tackling projects beyond AI
Waters Wrap: Anthony highlights eight projects that aren’t centered around AI at some of the largest banks and asset managers.
Speakerbus goes bust, Broadridge buys Signal, banks mandate cyber training, and more
The Waters Cooler: The Federal Reserve is reserved on GenAI, FloQast partners with Deloitte Australia, UBS invests in Domino Data Lab, and more in this week’s roundup.