Benefits of BondCliQ

As the central market system for corporate bonds, BondCliQ is uniquely designed to produce comprehensive benefits that improve institutional market conditions for all participants.

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    Buy-side issues with current market structure

    Pre-trade institutional quote data from market makers is loosely organized, often poor quality and frequently not actionable which creates an inefficient trading environment for block trading.

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    Buy-side Benefits

    BondCliQ’s consolidated quote platform, BondTIQ, creates a competitive environment that encourages market makers to compete for client order flow based on price and customer service. The result is a more efficient institutional secondary trading market that has:

    • Centralized and organized pricing information
    • Higher quality pre-trade data
    • Actionable bids and offers

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    Sell-side issues with current market structure

    Market makers do not have access to aggregated pre-trade institutional quote data and are limited in their ability to compete for high value client order flow which significantly impairs the commercial viability of institutional market making.

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    Sell-side Benefits

    BondCliQ’s business structure and platform mechanics create a new institutional market making environment that empowers dealers by:

    • Providing access to critical pre-trade information
    • Promoting fair competition for institutional client order flow
    • Creating a new revenue opportunity through the monetization of quote data

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    Regulators issues with current market structure

    Essential data needed to establish value is missing from the corporate bond market so regulators are unable to consistently monitor market practices or accurately quantify market performance.

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    Regulator Benefits

    BondCliQ’s consolidated quote platform, BondTIQ, improves price integrity in the institutional corporate bond market by creating a price formation process that:

    • Aggregates all available market maker quotes
    • Facilitates access for all market participants
    • Records historical pricing data