ICE Bonds unveils RFQ protocol for mortgage-backed securities
The functionality aims to reduce dependency on transactions via voice and chat messaging and allow clients to transmit electronic MBS requests anonymously.
The functionality aims to reduce dependency on transactions via voice and chat messaging and allow clients to transmit electronic MBS requests anonymously.
The move will expand StoneX’s client base and provide greater access to liquidity across fixed income markets, said the firm.
The move will see the firm become Guardian’s investment grade public fixed income asset manager, taking on the $45 billion investment grade public fixed income portfolio.
Other investors include BlackFin Tech, AlbionVC, HSBC, Illuminate Financial, ING and neosfer; investment follows TransFICC announcement in November that it intends to bid to become the consolidated tape provider.
Citi is the first dealer to support the newly expanded offering.
Protocol applies to rates, credit and repo and is aimed at reducing manual entry to enhance straight through processing (STP).
The service from TransFICC was used to improve connectivity and manage migration to the new platform, which Tradeweb acquired in 2023.
Move is set to enhance equity research and investment banking; acquisition subject to regulatory approval.
Individual has previously served at: Credit Agricole CIB, Standard Bank, and Mitsubishi UFJ Securities.
The two prototypes consist of a ‘blotter’ each, comprised of the trade reports published on a given day.