GFI Releases Electronic Trading Platform for Odd Lot Corporate Bonds in US
Service comes via CreditMatch with plans to extend it into a fully-executable CLOB in Q3 of 2015.
The service is an end-of-day odd lot matching session that provides executions through CreditMatch. Lauren Burd, head of fixed income electronic sales at GFI, tells Buy-Side Technology GFI saw a gap in the market with the amount of activity in the space.
"Odd lot transactions represent almost 90 percent of the number of trades in the interdealer corporate bond market so we knew there was clear demand for this product," Burd says. "Also, one of our key objectives is to provide clients with as
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