- 1.0 The Global Multilateral Fixed Income E-trading Brokerage Venue & Platform Landscape
- 1.1 Multilateral Fixed Income E-trading Brokerage Venue & Platform Operators and Product Coverage
- 1.2 Multilateral Fixed Income E-trading Brokerage Venue & Platform Matching Methodologies
- 1.3 Multilateral Fixed Income E-trading Brokerage Venue & Platform Liquidity Providers
- 1.4 Multilateral Fixed Income E-trading Brokerage Venue & Platform Additional Services
- 2.0 The Global Corporate & Sovereign Bonds Multilateral Brokerage Venue & Platform E-trading Landscape
- 2.1 Corporate & Government Bonds Multilateral Brokerage Venue and Platform Operators
- 2.2 Corporate & Government Bonds Multilateral Brokerage Venue and Platform Matching Methodologies
- 2.3 Corporate & Government Bonds Multilateral Brokerage Venue and Platform Liquidity Providers
- 2.4 Corporate & Government Bonds Multilateral Brokerage Venue and Platform Additional Services
- 3.0 Consolidation & Expansion in the Global Multilateral Fixed Income Brokerage Venue and Platform Landscape
- 3.1 Bringing it All Together
- 4.0 Notable Migrations at the Margin
- 4.1 The Growth of Portfolio Trading
- 4.2 Bundling Swaps
- 4.3 Putting the ‘E’ into Dealer-to-Client Repo Trading
- 5.0 Appendices
- 5.1 Methodology
- 5.2 Glossary of Terms
- 5.3 Table of Figures
Dissecting the Global Fixed Income E-trading Landscape
This report, the eighth annual report in an on-going series, explores change in the structure of the global fixed income market from an e-trading perspective witnessed since 2013, spanning bonds, rates, swaps and applicable structured products. Where once the historical business models of market participants were characterised by voice / manual or e-manual sales-trader processes and workflows, in 2020 digitalisation and electronification in response to new regulations are exposing the frailties of those once opaque methods while also incentivising growth in innovative approaches to transaction execution and business model design.