A new survey launched by research and advisory firm Aite Group, in partnership with The TRADE, is set to explore one of the most vibrant and liquid fixed income markets in the world.
The survey on the US Treasury market is aimed at better understanding the trends and challenges borne by buy-side managers who participate in the market.
Aite Group and The TRADE have partnered on the research to uncover insights into the trading of US treasuries, pricing and transparency, and changes we might expect to see over the next 12 to 18 months.
“This is an especially exciting survey to conduct because of the changes we are seeing in the way both on- and off-the-run US Treasuries are being traded,” said Audrey Blater, senior analyst at Aite Group.
“The adoption of tools such as algorithms to transact these securities has enabled firms to focus and specialise on more complex trades and alpha generation.
“Generally speaking, automation and electronification of trading has led to greater efficiencies. We are excited to learn more about the adoption of electronic trading tools and protocols by the buy-side in the market for US Treasuries.”
The survey will explore, among other things, the buy-side’s adoption of e-trading and what tools they will use, along with off-the-run US Treasuries and packages such US Treasuries traded against swaps, futures, and TBAs.
“Beyond efficiencies in the front office, the e-trading of US Treasuries is supported by straight-through processing – creating efficiencies along the entire workflow chain. This is a process that used to be plagued with manual steps and errors,” added Blater.
“We’ve consistently had an interest in the adoption rates of e-trading in financial markets. While the sell-side often uses electronic and automated means to transact U.S. Treasuries, the buy-side has some catching up to do. This study allows us to take the pulse of this progression.”
To thank respondents for completing the survey, Aite Group will send charts with the aggregate results those who fill in the survey.
A write-up of the results will also be published in The TRADE’s summer issue, available at the end of June.
Readers of The TRADE can complete the survey by clicking this link.
All responses will be reported anonymously and in aggregate. Individual responses will remain strictly confidential, and the report will not include the names of individuals or companies that participate.
If you have any further questions on the survey or wish to discuss, please contact Aite Group senior analyst Audrey Blater, Ph.D. (firstname.lastname@example.org).