While secondary market bond trading is increasingly electronic, new issues are only just beginning to catch up.
Joining Nivaura, Agora, Finsmart and various bank initiatives, Liquidnet, the peer-to-peer network of institutional asset managers that TP Icap acquired in March 2021, is the latest to offer digital tools for debt capital markets
It launched version 1.0 of Liquidnet Primary Markets in September, combining two elements: a workflow tool for buy-side firms to automate and streamline new issue announcements and pricing data; and a new protocol for grey-market trading of new bonds ahead of first settlement date.
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