BNY Mellon and HSBC Team Up with Algomi To Unlock Corporate Bond Liquidity - Seite 2

Niall Cameron, Global Head of Corporate & Institutional Digital at HSBC, comments: "The global reach of our markets and custodian businesses, and the presence of both in Asia, MENA and Europe offer specific benefits to our clients. By collaborating with a cutting edge fintech firm, in parallel with a leading US custodian business, we can use digital innovation to create a multi-trillion dollar bond pool that spans the globe."

"The global reach of our markets and custodian businesses is huge, and the presence of both in Asia, MENA and Europe is unrivalled. By working with a leading US custodian business, and a cutting edge fintech firm, we can use digital innovation to create a multi-trillion dollar bond pool that spans the globe."

Cian Burke, Global Head of HSBC Securities Services, said: "By aggregating data in this way, we will create exciting new trading prospects for participating investment manager and asset owner clients. The initiative will deliver them opportunities to transact simply but securely, helping them be more flexible and proactive, and drive higher turnover velocity in their bond portfolios."

Mehmet Mazi, Global Head of Credit Trading at HSBC, said: "This initiative is a great example of using data mining and connectivity to open up new pools of fixed income assets. Coupled with our automated trading technologies, this application could provide significant liquidity to our client base. Connecting buy-side and sell-side in this manner benefits both, and is sign of how fixed income markets continue to transform in the digital age."

Stu Taylor, CEO, Algomi comments: "The ability for dealers to tap the databases of large global custodians on behalf of their buy-side clients, to find a buyer or seller for a specific bond in real-time without compromising data privacy is a breakthrough development for fixed income markets. Working with two of the largest custodian banks will open up new avenues for price discovery and alert market participants to relevant signal data that indicates market activity, price and depth."

Mark Ledwards, Head of Sell Side Division, Algomi comments: "Custodian data is often perceived to be the 'holy grail' of inventory in bond markets, yet the need for data privacy has rightly prevented this resource from being used to its full potential. A permission led approach that gives custody members the power to only reveal their data if they wish to interact with trade enquiries from the market, provides a mutually beneficial model that enhances liquidity across the ecosystem".