NYSE Group Inc. today launched its new bond trading platform into full operation.
The Automated Bond System, the exchange’s previous bond trading platform retired on Friday, April 20, NYSE Bonds utilizes NYSE Arca’s open, accessible all-electronic design. ”Boasting drastically increased efficiency and more transparent trading in corporate debt issues for NYSE members entering orders for bonds trading on the exchange, the system primarily serves retail trading in corporate bonds utilizing a strict price and time priority architecture,” it says.
Based on SEC exemptive relief obtained in November 2006 that permits NYSE members and member organizations to trade certain unlisted debt securities on the exchange, NYSE Bonds will be expanded to trade the unlisted corporate debt issues of all NYSE-listed equity issuers and their wholly-owned subsidiaries, allowing NYSE customers to access nearly 6,000 additional bonds compared to approximately 1,000 today. Beginning in two weeks, NYSE Bonds will conduct a staged rollout, adding approximately 500 new issues weekly until the implementation is complete.
“This launch represents the NYSE Group’s diligent work in creating a truly unique system that fills a void in today’s bond market, and exemplifies the strong alliances we’ve cultivated with our vendors and member firms to expand the accessibility, liquidity and performance of the system,” said NYSE Euronext vice president, fixed income, John Holman. “NYSE Bonds offers distinctive features that provide investors the ability to more readily obtain transparent pricing and trading information, enabling them to make better investing decisions with the member firms using our platform.”
NYSE Bonds platform now available for trading
Investors can now trade bonds of NYSE listed companies with more transparency and efficiency
- By: James Langton
- April 23, 2007 April 23, 2007
- 10:10