Deutsche Börse enhances fixed-income market transparency with Bond Liquidity Data

Rick Steves

“European trading in fixed-income instruments is highly fragmented and non-transparent, as most transactions are over the counter and different data is stored with different market participants.”

Deutsche Börse has launched a new service that provides unique market insight on instrument liquidity and transaction data in the fixed-income market, the exchange announced.

Going by the name “Deutsche Börse’s Market Data + Services”, the solution leverages data from instructions on international securities settled by Clearstream’s ICSD.

Deutsche Börse and its post-trade service provider Clearstream will now be able to offer increased transparency and insights into the highly fragmented fixed-income marketplace through the new Bond Liquidity Data service.

Clearstream uniquely positioned to offer post-trade data

Investors will be able to leverage aggregated data of settlement instructions for international securities from Clearstream’s ICSD to fairly evaluate fixed-income assets and portfolios, measure liquidity and systemic risk of bond issuers, and estimate execution prices for secondary trades.

Alireza Dorfard, Head of Market Data + Services at Deutsche Börse, said: “European trading in fixed-income instruments is highly fragmented and non-transparent, as most transactions are over the counter and different data is stored with different market participants. Our customers have, therefore, a strong demand for high-quality data on fixed-income instrument prices and volumes. With this new offering, we further support them in making an informed assessment and decision”.

Guido Wille, Head of Eurobonds Business at Clearstream, commented: “As one of the major international central securities depositories, Clearstream processes close to 800,000 new issuances of international securities annually, including the respective settlement and custody. Being at the beginning and the end of the fixed-income value chain, we are uniquely positioned to provide comprehensive post-trade data, making the international bond market more transparent and thus more efficient.”

Chris Soutar joins Deutsche Börse’s 360T

Deutsche Börse has just announced the appointment of Chris Soutar to the sales team of 360T, one of Europe’s leading FX marketplaces.

Soutar has joined 360T from Deutsche Börse’s derivatives-focused exchange Eurex, where he worked in institutional forex sales from September 2019 until May 2022 – just under three years. At Eurex, he helped help unify the FX sales team globally and review its currency product suite as it builds out a full-service FX platform to improve client experience.

Soutar joined Eurex after nearly two years with Investec, an international specialist banking and asset management group, where he oversaw the company’s FX sales. Prior to this, he spent four years at State Street’s foreign exchange (FX) business, Currenex, from 2014 to 2017.

The move marks Deutsche Borse’s continued expansion motive in the foreign exchange space and institutional level trading businesses. It comes after nearly seven years of Deutsche Borse’s foray into FX ECN of its own with the acquisition of 360T, which turned to be the center of the exchange’s global FX business.

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