MarketAxess to offer cut-price dark pool liquidity

High-yield bond block trades could be 100bp cheaper on new platform, says executive

dark pools allow anonymous trades
Private Axes protocol allows participants to agree anonymous block trades in dark pools

Buy-side firms could see transaction cost savings of 100 basis points or more by executing block corporate bond trades on dark pools, according to a senior executive at trading platform MarketAxess.

"There will be a lot of execution cost savings when we get two asset managers to meet and move a large block position. You're taking away the full bid/ask spread, which could be a point or more in high yield, depending on the liquidity of the bond," says Richard Schiffman, New York-based product

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here