Interdealer broker ICAP is offering electronic access to the Euro Eurobond market.
The new electronic broking system, which covers both liquid and illiquid Euro Eurobonds, has been pre-installed in 29 banks, nine of which have already used the system to trade electronically.
Don McClumpha, managing director of ICAP electronic broking, says: "Bank dealers now have a choice – they can continue to have the flexibility of working with a broker or execute their trades electronically."
Gary Smith, managing director of Garban Securities, comments: "The ability to complete spread trades against different benchmark government bonds and pricing calculators which use ICAP’s interest rate swap prices are both key features that are not available elsewhere.”