BondCliQ is a central market system for US corporate bonds comprised of two major components:
- Post Trade Services
- Pre-Trade Services
BondTIQ stands for Bond Trades and Institutional Quotes and is a browser-based, market data application for viewing post-trade (TRACE) and pre-trade (consolidated quotes) information.
- BondTIQ – An innovative data visualization application for viewing real-time and historical TRACE data
- Enriched TRACE Feed – API of real-time and historical TRACE data that includes major spread calculations (T-spread, G-spread, I-spread, Z-spread)
- BondTIQ – A consolidated quote platform for viewing real-time and historical institutional quote data
- Enriched Quote Feed – API of real-time and historical pre-trade institutional quotes
A consolidated quote platform is a non-executable bulletin board of attributed market maker quotes.
BondTIQ is not a trading platform and does not support electronic execution. All displayed market maker quotes are indicative and not actionable through BondTIQ.
Rapid expansion in the corporate bond market has exposed a fundamental flaw in market structure, lack of high quality pre-trade data. Without better information on where bonds can trade, market makers are unable to accurately measure the risks associated with taking principle positions, which is essential to maintaining liquid markets.
Why will BondCliQ help with liquidity freeze when so many new platforms have yet to get significant traction?
BondCliQ is an architectural solution based on a concept that has historically been proven to improve market liquidity by organizing pricing information and creating a competitive environment for market making.
BondCliQ is focused on improving the institutional >=$1MM market for corporate bonds
BondCliQ displays market maker quotes with attribution (dealer identity) and rank (relative quote performance over time). The ranking system rewards market makers who provide accurate pre-trade information to allow dealers to build franchise value based on their quote quality.
No. Only BondCliQ Member Firms can display quotes.
Please reach out to Kevin Molloy (firstname.lastname@example.org), Head of Dealer Relationship Management to discuss next steps