â¢ Provide transparent price discovery on individual banks' bond quotes
â¢ Provide access to privileged liquidity for clients of participating banks through BondVision
â¢ Be supported by six banks from launch, including Barclays Capital, CrÃ©dit Agricole, Deutsche Bank, JPMorgan, RBS and SociÃ©tÃ© GÃ©nÃ©rale
â¢ Be open for further banks to join from early 2011
The new Single Dealer Pages functionality will always give users access and execution on the best price available, being able to choose between a Request for Quote (RFQ) and a Click-to-Trade on nominative quotes. This will further add to market transparency. Together these features provide clients with a solution for best execution while also helping them meet market regulations.
Jack Jeffery, Chief Executive of MTS, said:
"Listening to clients and developing innovative technology are two key principles of our business. The Single Dealer Pages functionality has been developed in response to feedback from banks and clients, allowing our customers more choice and the ability to build on established relationships".
Maurilio Pace, Managing Director and co-head of EMEA Rates Sales at J.P. Morgan said:
"In the constantly evolving fixed income market, being able to offer clients a variety of execution methods is very important to us and the Single Dealer Pages allow us to provide clients with direct quotes on different instruments. This added transparency helps us increase client opportunities and improve their workflow."
Gabrielle Couzy, Credit Agricole CIB, Head of Flow Rate and Credit eBusiness, said:
"CA CIB is committed to supporting BondVision's Dealer Pages which will enhance pre trade transparency and allow for better customisation of our electronic trading offer. The improved efficiency which this initiative brings to existing price discovery mechanisms is a key requirement from our clients and a central theme in today's evolving regulatory environment".
Ron Karpovich, Global Head of FICC Product Management and Managing Director of Electronic Markets at Royal Bank of Scotland said:
"RBS is pleased to support this initiative from MTS/Bondvision allowing us to provide our premium clients with a more tailored service. RBS is committed to providing its clients with the highest levels of service in all aspects of business, and in particular sees the value in leveraging electronic channels to build its franchise."
Stephane Malrait MD, Global head of eCommerce, at SociÃ©tÃ© GÃ©nÃ©rale, said:
"As the fixed income market is seeing rapid changes, BondVision is moving in the right direction and developments such as the Single Dealer Pages are proof of this. We are fully committed to providing our customers with innovative and efficient tools to support their trading and we are pleased to be part of this initiative".
Andrew Challis, Head of Global Rates E-Distribution at Barclays Capital, said:
"The coexistence of multi-dealer and single-dealer electronic trading platforms is a necessary and beneficial feature of the fixed income electronic trading markets as our clients' needs can differ substantially. Barclays Capital is very happy to support this extension to the Bondvision platform and provide our clients with greater choice and flexibility in accessing our BARX pricing in whichever form fits their distinct requirements."