Looking for a new protocol to trade IG and HY blocks?
Download the PDFWhat factors are you motivated by?
Make a smart move by selecting the most advantageous protocol for your trade
Choose RFQ when time is more important than price
Choose Live Markets when time is on your side
Live Markets: How it works
You need to sell $15mm bonds and prefer to keep it discreet
Iceberg your $15mm trade on Live MarketsPost your offer at the price you want
Enter an order on 15mm with just 5mm visible size
Set a time limit
Your full size is hidden. If you trade a partial, your unfilled balance will be entered into Multiparty Workup and remain in the stack
A buyer confirms a purchase at 5mm
Automatically enter into a blind multi-party workup and sell an additional 3mm
You receive a ticket of 8mm sold. You can rerack your offer or leave it resting
This process repeats until all your bonds are sold.
You want to buy $10mm on Live Markets
Sweep the StackYou want to buy 10mm, you see:
5mm at $98.25
2mm at $98.375
3mm at $98.50
You can sweep the 3 offers and receive a single weighted average price ticket with MarketAxess as the counterparty. You remain fully anonymous to the sellers.