Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Exchanges

03:03 PM
Connect Directly
RSS
E-Mail
50%
50%

OPERATIONS NEWSFLASHES

European Bond Dealers Form Association to Discuss Trading Operations; Three European Banks Sign Up for Money Markets Reference Data Service; ADP Finalizes Acquisition of U.S. Clearing and BrokerDealer Services

European Bond Dealers Form Association to Discuss Trading Operations

Primary dealers in the European government bond markets have formed an association to tackle market issues and operational trade processing practices. The European Primary Dealers Association (EPDA) -- which is affiliated with The Bond Market Association in the United States -- is the first dealers' forum to address specific primary and secondary markets issues.

The group's creation occurs three months after Citigroup ignited a crisis when it executed an 11 billion euro denominated bond trade in two minutes through the electronic MTS platform. EPDA says that a key focus is for an efficient and liquid secondary market through voluntary trading guidelines and improved market practices.

An EPDA official says initially it will focus on issues of importance to its overall membership, in particular to improve the auction, clearing and settlement practices by promoting gradual harmonization.

EPDA membership currently consists of the top 20 dealers active in the markets, though there are approximately 75 primary dealers in the euro government securities market. More primary dealers will be invited to join as associate members.

Previous
1 of 3
Next
Register for Wall Street & Technology Newsletters
Video
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.