Speaking at the ICMA conference in London on Thursday, Sarah Breeden, deputy governor for financial stability at the Bank of England, highlighted how growing hedge fund participation in gilt repo markets can increase systemic vulnerabilities, while suggesting greater central clearing could strengthen resilience and result in real benefits for dealers.

Electronic trading constitutes almost half of investment grade volume, and 32% of high yield volume, with activity expected to grow further over the next few years, according to a recent Coalition Greenwich report.

The TRADE sits down with Mike Poole, head of trading at Jupiter Asset Management, to discuss what’s shaping the fixed income e-trading ecosystem right now, spanning factors impacting protocol choice, the new transparency regime, and what to keep an eye on in 2026 and beyond.

Although bond managers are holding fast for the moment, only time will tell how markets may shift amid the crisis, with the industry facing two very different potential paths, according to experts.

The new framework comes into play just months after the UK’s regime was revised in December 2025; includes staggered publication and instrument-based deferrals.

Alongside regional disparities, a recent AFME report also highlighted the potential impact that scarce consolidated data for DLT-based repo transactions is having on issuance activity.

Alongside the growth in data spending in this sector, traders will also have to ensure they possess even more advanced technical capabilities than previously required to keep up in an increasingly automated market, according to a new report.

Almost a week on from the US strikes on Venezuela and the extraction of President Maduro, Natasha Cocksedge explores how markets have responded to the unprecedented intervention.  

Wesley Bray explores the latest rule changes for fixed income clearing in the US, what institutions should be most conscious of, how to navigate these changes and what their impact will likely be on competition.