Fixed Income

MarketAxess head of Europe and Asia, Robert Urtheil, is to step down from the role, citing personal reasons.

European regulators have approved of progress made to reforming the Euribor benchmark in the wake of the Libor scandal.

Post-trade solutions provider Omgeo has reported a 12% increase in its fixed income client base in 2013.

The vast majority of interest rate derivatives were centrally cleared ahead of compliance with G-20-inspired rules by institutional investors, according to a new report by the International Swaps and Derivatives Association.

Electronic fixed income trading platform MarketAxess earned US$60.4 million in Q4 2013, up 24.4% on Q4 2012, driven by gains in commission revenue as the platform operator extended market share.

Nasdaq OMX is expanding its First North Bond Market to Finland.

Asset managers have already begun the expected shift to making prices in corporate bonds, MarketAxess CEO Rick McVey has said, driven by greater all-to-all market functionality that he believes will increase significantly.

Investment banks’ fourth quarter financial reports have revealed many are struggling to make money in the fixed income market, with industry experts expecting big changes to their business models in 2014.

European politicians reached agreement on the core rules of MiFID II last night, but industry experts warned there is a lot of work still to be done before the legislative framework is complete.

The institutional investor community must adapt to new swap execution facilities and an increased push to electronify the fixed income market, both of which are set to dominate the agenda in 2014.