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Broker/dealers and other financial institutions utilize the secondary fixed income markets to execute their customers’ orders, trade for a profit and manage their exposure to risk, including credit, interest rate and exchange rate risks. There is no centralized exchange in the fixed income market. As
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The IDB community distributes information and facilitates transactions in the secondary, or wholesale, financial debt markets between dealers and dealer banks around the world. Typically, markets which make extensive use of IDBs include the corporate bond, fixed income derivatives, U.S. Government
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Inter-dealer brokers play varying roles in each of the fixed income markets and have become instrumental to their effectiveness and efficiency. IDBs draw together buyers and sellers so that trades can be executed by market participants. IDBs provide potential buyers and sellers with the critical
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and other debt markets, also known as “municipal securities broker’s brokers” in the municipal bond markets, are specialized securities companies who act as intermediaries working to facilitate transactions between broker/dealers and dealer banks in these markets. IDBs are sometimes described as
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providing a “Petri dish” of liquidity in the bond markets. That is, they provide a “nurturing environment” wherein market participants can ascertain information about a given market, thereby eventually facilitating a trade between buyers and sellers.
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a result, financial institutions need a way to find information, liquidity and anonymity for their trading activity. This need created a demand for the services of perhaps the least known and understood market participants, IDBs.
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markets, IDBs are specialized securities companies serving as intermediaries which facilitate transactions between broker/dealers and dealer banks in the debt markets.
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working to facilitate transactions between broker/dealers and dealer banks in markets where there is no centralised exchange or
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Lowering costs via their provision of prices to traders without incurring staffing costs
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Providing anonymity and confidentiality via their position in the “middle” of trades
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and transparency via communicating dealer interests and transactions
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Facilitating enhanced liquidity via their broad range of contacts
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and Agency, municipal securities and emerging markets.
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Securities
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479:"BGC Partners Completes Full Merger with GFI Group"
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