The Order book for Retail Bonds (ORB), the electronic service launched by the London Stock Exchange (LSE) in February 2010 to meet private investor demand for easier access to trading bonds, offers increasing efficiency as it approaches its fourth anniversary said Lloyds Bank.
The bank added that the LSE service provides a flexible alternative source of funding for medium-sized corporates and provides a bridge between the worlds of bank finance and the institutional bond market for borrowers looking to diversify their funding.
“We have brought issuers and investors together in a range of successful transactions for financial institutions [FIs] and corporate,” said David Carmalt, head of FI debt capital markets at Lloyds Banks Wholesale Banking & Markets.
“Our focus is always on the sustainability of the market and we look for structural elements that we consider are appropriate for retail investors. We look forward to continued growth in the retail bond market as investors develop their awareness of fixed income securities.”
Juan Blasco, head of credit product, Lloyds Bank Commercial Banking, added: “We are very pleased to have been part of the success story of this platform. Our role as market maker has deepened our long standing commitment to ORB and the LSE. Strong network and market expertise has enabled us support the development of an increasingly efficient secondary market to benefit issuers and investors in the UK.”
More than 60 gilts and over 100 corporate bonds – tradable in denominations of £1,000 or less – are available for trading on ORB, which also offers a mechanism for corporate issuers wishing to distribute bonds to retail investors.
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