The London Stock Exchange has led a Series A funding round in BondCLiQ, the operator of a consolidated quote system for the corporate bond market.
Alongside the investment, LSEG and BondCliQ have signed heads of terms to collaborate on new product opportunities, including making BondCliQ proprietary data available through LSEG, to improve pre-trade pricing for corporate bonds.
Andrea Remyn Stone, group head, data & analytics, LSEG, states: “As a longtime supporter of visibility and transparency, we believe BondCliQ’s consolidated quote system is a major structural improvement that will lead to better outcomes for all investors.”
The London market operator was joined by Aflac Ventures and SEI in the funding round, the value of which was not disclosed.
BondCliQ CEO Chris White, says the relationships will help the firm increase market penetration in the US and Europe.
“We thank these participating buy-side and financial technology institutions for their commitment to BondCliQ and know these important relationships will play a critical role in creating a healthier corporate bond market that better serves the end investor,” he says. “We also continue to speak with other potential investors interested in participating in the transformation of the corporate bond market.”
Additionally, investment management firm Vanguard has engaged as a strategic partner with BondCliQ to support its goals for improving transparency and liquidity in corporate bond markets.