Bondcube, the fixed income trading platform, has announced that independent execution broker ITG has been appointed as a US trading intermediary for Bondcube’s buy-side to buy-side trades.
As a US trading intermediary on Bondcube, ITG will facilitate the settlement of trades between buy-sides. The partnership will increase the probability of a match for clients of both firms by allowing ITG clients access to the additional Bondcube liquidity and participants.
“We are delighted to connect to Bondcube as a US intermediary,” said Frank DiMarco, head of fixed income electronic trading at ITG. “It means our clients can now access an additional pool of liquidity to improve their fixed income execution efficiency.”
Bondcube is focussed on discovering liquidity for large and illiquid bond trades. Bondcube believes there is significant buy-side liquidity that can only be discovered using smart technology. The platform has a fast-growing number of global clients using it daily.
Bondcube takes indications of interest (IOIs) from participants and matches them with other buyers and sellers. These IOIs remain active or historic until a match is found. Only the participants that have the offsetting interest in that security are notified and eligible to begin a negotiation for a trade.
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