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Article: Buy Side Cuts Back on E-bond Trading in Europe.(Clearing & Settlement)
- Article from:
- Securities Industry News
- Article date:
- February 16, 2009
- Author:
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Byline: Tom Groenfeldt
European market participants did less of their fixed-income trading electronically last year than in 2007, according to a survey by the Securities Industry & Financial Markets Association (Sifma).
Fifty percent of buy-side respondents said they conducted more than 60 percent of their fixed-income trades electronically, down from 60 percent in 2007. Mark Austen, managing director of Sifma in Europe, noted that the annual survey had previously shown e-trading increases of a few percentage points each year.
"When liquidity is constrained," said Austin, "I think people want to trade by voice rather than electronically, because ...