Guide to Electronic Bond Trading Systems

January 10, 2001

Abstract

Boston, MA, USA,  January 12, 2001

Celent's  

In a new report entitled "Celent's ," Celent Communications rates the leading electronic platforms in the US bond market.

While still early, electronic bond trading systems have grown exponentially over the past two years. Over 80 bond trading systems are now competing for the leadership in the US bond market.

A Table of Contents is available online for review.

Some of the promising firms include the following:

Rank Liquid Bonds     Less Liquid Bonds     Platforms to Watch  1 TradeWeb  Bond Link  Visible Markets 2 eSpeed   Market  Axess/Bond Connect   Bond Book

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

 

Boston, MA, USA, January 12, 2001

Electronic Bond Trading Systems

Return to report Abstract

EXECUTIVE SUMMARY  3
INTRODUCTION  4
MARKET OVERVIEW  5
ONLINE BOND TRADING SYSTEMS  8
  TYPES OF ELECTRONIC TRADING SYSTEMS  8
  A QUESTION OF LIQUIDITY 12
PLATFORM PROFILES  14
  MULTI-DEALER SYSTEMS  15
  Market Axess 15
  TradeWeb 16
  CROSS MATCHING SYSTEMS 18
  BondBook 18
  Bond Connect 19
  BondLink -- Trading Edge, Inc. 21
  BondMart 22
  BondNet -- Bank of New York 23
  Visible Markets 24
  INTER-DEALER SYSTEMS  25
  BrokerTec 25
  eSpeed 27
  Electronic Trading Community (ETC) -- Garban-Intercapital 28
PLATFORM COMPARISONS 30
FUTURE TRENDS 35

 

        

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