Thought Leadership

By Sue Gross
 • 
1 year ago

The increased regulation aimed at protecting the retail investor around individual bond investing has contributed to the substantial growth in fixed income packaged product adoption by advisors and could ultimately hurt the retail investor’s access to individual bonds.Read Full Article

By Sue Gross
 • 
1 year ago

The need for dependable financial benchmarks cannot be overstated given the recent LIBOR debacle which resulted in an FCA mandate for the replacement of LIBOR by the end of 2021. A reliable benchmark needs to be firmly and quantitatively grounded in the economic realities of the market it aims to represent.
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By Sue Gross
 • 
1 year ago

On September 1 and August 12, 2016, respectively, the MSRB and FINRA formally applied to the SEC to make mark-up disclosure on retail confirms the law of the land. In the 14 months since, BondWave has been actively engaged in providing a real-time Prevailing Market Price (PMP)Read Full Article

By Lou Rebimbas
 • 
2 years ago

The London Interbank Offered Rate or LIBOR, the global benchmark interest rate that impacts customers and companies borrowing money across the world, is to be replaced by the end of 2021, though uncertainty hangs on what the replacement will look like.Read Full Article

By Daniel Conroy
 • 
2 years ago

May 14th started a one-year countdown to the implementation of the Mark-up Disclosure Rule and the implementation of the PMP Waterfall approach for fixed income in 2018. If your firm hasn’t started working on a process and solution, you are already behind.Read Full Article

By Daniel Conroy
 • 
2 years ago

Fulcrum had a number of clients who were trying to navigate their fixed income bond allocations, particularly in a rising rate environment. Many investors were seeking to diversify and optimize their bond holdings, yet many advisors only offered clients a limited range of investment options because of the complexity of fixed income investing. Read Full Article

By Daniel Conroy
 • 
2 years ago

We Lose Money on Every Trade, But Make It Up on Volume: One of the things that make bonds unique relative to stocks is the way compensation is collected for trading. The lion’s share of equity trades involve an explicit commission charged to the client. Be it a flat rate per ticket, as is common among online and retail brokerage, or a ‘cents per share’ commission…Read Full Article

By Lou Rebimbas
 • 
2 years ago

A Land Where Typos Still Exist: When it comes to trade reporting in equities the current debate centers on whether certain high speed trading firms have microsecond advantages over other market participants because they purchase trade report feeds directly from exchanges rather than waiting for the slower, consolidated feed from the SIP (Securities Information Processor). Read Full Article

By Lou Rebimbas
 • 
2 years ago

BondWave maintains a proprietary database of dealer-to-dealer bid/ask spreads and customer- to-customer bid/ask spreads that allows us to measure trading cost in corporate and municipal bonds. Using this data, we can examine trends in trading behavior and trading cost over time. The data has been calculated in real-time since the beginning of the second quarter of 2016.Read Full Article

By Lou Rebimbas
 • 
2 years ago

BondWave introduces the second Data Digest that explores and mines our extensive data library of the fixed income marketplace where we frequently come across interesting patterns, observations and new data.Read Full Article