MarketAxess has launched trading in floating rate notes (FRNs) on its European platform, MarketAxess Europe Ltd. Floating rate notes are debt instruments with a variable interest rate. Coupon adjustments are made periodically, often every six months, and are tied to a money-market index. All transactions on the European platform are executed using a multi-dealer disclosed counter party model and ‘one-step’ trading protocol. The disclosed counter party model is an inquiry-based trading system that allows institutional investors to view multiple bids or offers from participating dealers on a ‘request for quote’ basis. The one-step trading protocol delivers bond price, spreads and government bond levels simultaneously, and accommodates the diverse benchmarks used in Europe.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.