ITG becomes Bondcube US trading intermediary

May 19, 2015 - PRLog -- Bondcube, the Fixed Income trading platform, is pleased to announce thatITG, the independent execution broker, has been appointed as a US trading intermediary for Bondcube’s buy-side to buy-side trades.

As a US trading intermediary on Bondcube, ITG will facilitate the settlement of trades between buy-sides. The partnership will increase the probability of a match for clients of both firms by allowing ITG clients access to the additional Bondcube liquidity and participants and vice-versa.

Frank DiMarco, Head of Fixed Income Electronic Trading at ITG, said, “We are delighted to connect to Bondcube as a US intermediary. It means our clients can now access an additional pool of liquidity to improve their fixed income execution efficiency.”

Bondcube is focussed on discovering liquidity for large and illiquid bond trades. Bondcube believes there is significant buy-side liquidity that can only be discovered using smart technology. The innovative platform has a fast growing number of global clients using the platform daily.

Paul Reynolds, Bondcube CEO said, “With a complimentary client base, we see this partnership as an exciting phase of our growth in building out the new global pool of buy-side Fixed Income liquidity. We will be making further announcements about high quality partners such as ITG”.

Bondcube takes indications of interest (IOIs) from participants and matches them with other buyers and sellers. These IOIs remain active or historic until a match is found. Only the participants that have the offsetting interest in that security are notified and eligible to begin a negotiation for a trade.

Bondcube Limited is a crossing network regulated by the FCA. Bondcube Inc. is a broker/dealer and an Automated Trading System (ATS) in the US.

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About Bondcube - Liquidity Discovery Network
Bondcube is an all-to-all Fixed Income trading platform that aims to boost the overall liquidity of the global bond markets by enabling buy and sell-side users to place their interests and orders discretely and precisely.
Based in London and Boston, the firm is accumulating a growing amount of buy-side liquidity and matching users from as far afield as Sydney to Zurich and Frankfurt to New Mexico. These are orders that have failed to execute via RFQ.

Posting an Indication of Interest (IoI) includes side and size range, but no price or spread. The IoI can be exposed to specific groups of users. Dark-matching means only the buyer and the seller are aware of the match, no one else is aware. Buy-side to buy-side negotiations are anonymous and crossed through risk-free intermediaries such as UBS or ITG for a small mark up/down. Buy-side to sell-side negotiations are fully disclosed identity. Existing buy-side to sell-side relationships are maintained in all trades.

Bondcube is free to connect to for all buy-side and sell-side firms.

Bondcube is where Silicon Valley technology meets Wall Street.

The company is currently privately owned by a consortium of owners including Deutsche Börse AG and Bondcube management.

For more information www.bondcube.com