Access to BondVision's electronic trading platform is now available via GoMarkets, GlobeOp's electronic trading connectivity platform for hedge funds.
Powered by the MTS Group inter-dealer trading platform for European bonds, with average trading volumes of EURO 75 billion in cash and repo, BondVision is a leading multidealer-to-client market in Europe, which allows clients to access price discovery as well as real-time, tradable prices from the leading MTS market makers.
GlobeOp's clients will now be able to access BondVision's premier multi-dealer electronic solution for fixed income trading, where previously they might have been limited to trading via phone or required to access multiple electronic platforms from various dealers or product types. Through the request-for-quote or request-for-switch-quote functionalities, clients will simultaneously send trade requests to a maximum number of their preferred BondVision Dealers, and based on the dealers replies, will be able to execute the trade at the best price.
As a further benefit to GlobeOp clients, direct connectivity via GoMarkets to BondVision will enable the increased efficiencies of straight through processing (STP) of fixed income securities directly into GlobeOp's trade entry and bookkeeping infrastructure. Through GoMarkets, BondVision's participating market makers can expand their service to GlobeOp's hedge fund clients and a large and diversified buyside community, accounting for a significant share of the daily European bond volume.
"Adding BondVision's European fixed income securities trading to our GoMarkets platform further enhances the remarkable power of the connectivity we are rapidly building for our clients,' says Hans Hufschmid, chairman and chief executive officer of GlobeOp. 'GoMarkets now makes possible straight through processing for FX through Currenex, Cds through T-Zero and global equities through Instinet. With BondVision and the future connections we are planning, we see GlobeOp continuing to build its leadership position as an innovative solutions provider to the hedge fund community."
Gianluca Garbi, chief executive officer of MTS Spa, adds: "Permitting the participants of the market to automate the processing of the transactions to their clearing and settlement houses of choice has always been the top priority in all the markets we manage. This agreement with GlobeOp will extend to the hedge fund community the level of post-trading flexibility that BondVision is committed to providing to the 1,000 fund managers active in its market."
Powered by MTS, Europe's leading fixed-income wholesale market, BondVision is the only regulated Internet-based multi Dealer-to-Client Market with an ISD European passport. Institutional clients connect via the Internet and request quotes from competing Dealers prior to trading at the best incoming price. BondVision Dealers are also members of the network associated with MTS Markets‚ wholesale trading platform. Listed securities include euro-denominated Sovereigns, Agencies, Asset-backed securities and corporate bonds. Local currency sovereign issues from Central European countries are also listed. Cash and Switch trading are supported. Clients trade on BondVision free of charge. BondVision dealers include a blend of global houses and regional specialists.
GlobeOp Financial Services specialises in middle- and back-office support services and fund administration for hedge funds, funds of hedge funds, asset managers and high net worth family wealth managers. GFS provides independent services essential to the successful operation of private investment entities with activities ranging across a wide spectrum of traded instruments. The firm's GlobeOp Risk subsidiary provides independent risk reporting and quantification to investors, creditors and managers. Company expertise is drawn from the senior levels of international banking and fund management and encompasses a wide range of relevant experience.