The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

The new Italian connection

Deal: Merger of technology platformsStructure: MTS buys 15% stake in CoredealResult: New corporate bond structure – CoredealMTS

Most EuroMTS announcements are not what you would call exciting. 'Record trading volumes on MTS Portugal' and the like don't exactly get the heart racing. But a recent joint initiative from EuroMTS and the International Securities Market Association (Isma) is rather different.


Isma has taken Coredeal, its inter-dealer credit trading platform, which lists about 5,000 corporate bonds but lacks liquidity and decent technology, and combined it with EuroMTS, which has a robust technology platform and good liquidity but no corporate bonds. The result is CoredealMTS, a bond exchange that will be ready for use in January 2002 and may one day become an open exchange for dealers, institutional investors and borrowers.


On its own, Coredeal was never a great success. Isma announced that it was going to set it up in early 1998, when banks and everyone else in the financial markets were drunk with optimism about the possibilities that technology was beginning to offer for trading. Speaking from a villa in Provence, where he was relaxing after the busy build-up to the CoredealMTS announcement, John Langton, CEO of Isma, was candid about the platform's performance. "There is no point saying that Coredeal had good volumes, because it didn't," he admits.



You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree