MarketAxess to offer cut-price dark pool liquidity
High-yield bond block trades could be 100bp cheaper on new platform, says executive
Buy-side firms could see transaction cost savings of 100 basis points or more by executing block corporate bond trades on dark pools, according to a senior executive at trading platform MarketAxess.
"There will be a lot of execution cost savings when we get two asset managers to meet and move a large block position. You're taking away the full bid/ask spread, which could be a point or more in high yield, depending on the liquidity of the bond," says Richard Schiffman, New York-based product
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