Buy side unconvinced of corporate bond streaming benefits
Managers see limited utility of streamed prices in the once OTC-only asset class.
Direct price-streaming for corporate bonds is struggling to make the impact electronic trading has had on other markets—despite renewed efforts from dealers, who have offered streaming in some capacity for years now.
Asset managers have long complained about the lack of quality pre- and post-trade information in corporate bond markets—specifically, the absence of a consolidated tape for traded prices in Europe, and, more generally, the unreliability of dealers’ pricing indications.
Now, the
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