Fixed Income

Traders are bracing themselves for continued increased volatility in the bond markets, following warnings from numerous buy-siders in recent weeks.

Steps to clean up capital markets and prevent abuse announced by Bank of England governor Mark Carney last night have been welcomed by the UK buy-side trade body the Investment Association.

London Stock Exchange Group has signed an agreement with Chinese broker Haitong Securities to develop RMB-based products and open up capital markets to Chinese investors.

MarketAxess has hired Scott Eaton as its chief operating officer for Europe, taking responsibility for its electronic trading platform and its Trax post-trade product.

ICAP has appointed Ted Bragg to develop fixed income products as it spies new opportunities in the asset class.

Almost three quarters of buy-siders say dealer risk appetite is having a negative impact on their ability to source corporate bond liquidity, according to research by Woodbine Associates.

Fixed income trading platform Bondcube has signed a deal with agency broker ITG’s US arm, making it a trading intermediary.

Traders should expect up to 40 algorithms on the market to trade fixed income, and foreign exchange by the time the Markets In Financial Instruments Directive II (MIFID II) takes effect in 2017, according to research from EY.

Liquidnet has expanded its European fixed income sales team, hiring Mark Taylor as a senior salesperson.

Bloomberg has launched a new bond liquidity service, utilising State Street as a counterparty.