NYSE Euronext Bond Trading Platfrom Approved
Wednesday, June 22, 2011
NYSE Euronext has announced that NYSE BondMatch, its new Multilateral Trading
Facility designed to meet European user needs for transparency, liquidity
and effective pre- and post-trade services on the euro-denominated bond market,
has received regulatory authorization and will begin trading on July 11, 2011.
NYSE BondMatch will enable professional investors to trade more than 1,800
international corporate, financial and covered bonds on a transparent order
book with firm orders. The platform is open to all, whether on the buy side
or on the sell side, and it will also offer compulsory post-trade services with
a central counterparty, LCH.Clearnet SA, connected to major European national
Central Security Depositories and International Central Security Depositories
for settlement and delivery.
"We are very happy to announce the launch of NYSE BondMatch, a revolutionary
order book-driven bond market that promises to bring real reform and new liquidity
to corporate bonds trading in Europe," said Roland Bellegarde, NYSE Euronext's
Executive Vice President for European Listing and Cash Trading.
"The financial crisis highlighted the urgent need for a more liquid, transparent,
secure and automated bond market", added Fabrizio Capanna, Head of Retail
Credit Trading Europe (ex-UK) at BNP Paribas CIB. "We are confident that
NYSE BondMatch will boost liquidity, reduce risk and encourage greater participation
by reducing dealing costs and making the market more transparent."
NYSE BondMatch has expanded its Strategic Committee with the appointment of
François de Causans, Head of Funding at Total, Dominic Holland, Director
Credit e-Commerce at Deutsche Bank, Thijs Aaten, Head of Allocation at APG Investments,
and Olivier Gazzolo, co-Head of European Credit Trading at Société
Générale CIB.
Jean-François Boulier, CEO of Aviva Investors Europe and Chairman of
NYSE BondMatch's Strategic Committee, said: " We are delighted that such
prestigious names in global finance have decided to join the Strategic Committee
of NYSE BondMatch. The Committee now reflects the diversity of participants
even better, both in terms of geography and market representativeness."
"The success of NYSE BondMatch will depend on the will of all participants
to drive the market from the offset, including banks and brokers who will benefit
from opportunities to increase trading volumes with lower risk," said Christophe
Roupie, Global Head of Trading and Securities Financing at Axa Investment Managers
and Deputy Chairman of NYSE BondMatch's Strategic Committee.
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