MarketsMuse blog update profiles yet another bond trading system. Bloomberg has introduced new bond trading platform, Bloomberg Bond Cross (BBX), which allows market participants to access European bond market liquidity. Participants now have access to the European bond market liquidity thanks to a new partnership between Bloomberg and State Street. This MarketsMuse blog update is courtesy of WatersTechnology’s article by Marina Daras, “Bloomberg, State Street Launch European Bond Trading System“, with an excerpt below.  

Bloomberg Bond Cross will use Bloomberg’s Trading System Order Execution (TSOX) technology to capture clients’ orders. State Street then finds the opposite side of the trade and participants can work towards negotiating and executing a trade with State Street acting as an impartial counterparty for each trade.

“Despite constraints on dealers’ ability to make-markets in corporate credit, large orders still need to be executed each day,” says George Harrington, global head of FICC trading at Bloomberg. “Bloomberg Bond Cross brings together our existing large network of Bloomberg Professional service subscribers, providing the ability for order staging, negotiation and transacting in one place, attracting volume and building liquidity to help investors identify trade opportunities with State Street.”

To continue reading about this new bond trading platform from Bloomberg, click here.