Credit becomes a special case

Equities might enjoy all the glory at the moment but watch out for credit. This techno-laggard of the financial markets is set for an electronic great leap forward. If proof were needed - even the venerable CBOT has been showing interest. Antony Currie logs on.

DLJ’S FED: Bond data to go

Brokertec: Magnificent Seven

Mutant gives birth

While foreign exchange moved to an electronic broking system in 1992 and equities became gradually more automated – in Europe at least – the credit market in the main sat back and watched.

Much of the reason is to do with the structure of the market. Three major factors differentiate the bond markets from other products. First, there is no central exchange, for cash products at least.

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