Word is Bond

TRADING TECHNOLOGY

Judging from the flurry of activity surrounding the unveiling of online bond trading in the last few years, it would be easy to assume that fixed income was a homogeneous market, where all bonds were traded electronically with ease. In reality, only a small fraction of the overall market is traded electronically. The vast bulk of the bond market remains voice-brokered and is expected to remain so for some time.

The reason is simple. While electronic trading is commonplace in the US treasuries

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