Effective 01/21/15, Bondcube has become a FINRA broker/dealer member. This comes on the heels of the approval of Bondcube Limited as a crossing network in October 2014 by the UK regulator FCA and in December 2014 by the thirty-one other EU regulators. Bondcube Inc. will now apply to the SEC to become an ATS.
Bondcube aims to discretely take indications of investor interest and then match buyers with sellers. This is done by participants loading up their indications of interest (IOI's), where they indicate security, direction and minimum and maximum trading size. These IOI's remain dark on the platform, either on an active or historic basis, until a match is found and only the participant(s) who have the offsetting interest in that security are notified and eligible to begin a negotiation for a trade. Bondcube will provide users with an alternative to the existing trading infrastructure of Buy-side RFQ to Sell-side trader.
Bondcube has a fast growing number of clients using the platform in Europe and will add more clients and more functionality during 2015.