Electronic bond trading system Espeed is to remove its 'price improvement' feature, in a move that is expected to hit the firm's short-term revenues.
The price improvement tool on eSpeed's system allows traders the opportunity to advance their position by slightly improving their bid or offer on the quoted market.
Espeed says it decided to remove the feature in response to client feedback for simpler trading and faster speed of execution.
The firm says the move will likely reduce overall revenues in the short-term, but over time should lead to increased market volumes and additional income.