Interactive Brokers Launches Direct-Access Bond Trading on NYSE, BondDesk and Timber Hill

Interactive Brokers Launches Direct-Access Bond Trading on NYSE, BondDesk and Timber Hill

GREENWICH, Conn., Dec. 15 /PRNewswire/ -- In an industry first, Interactive Brokers will offer direct-access and immediate execution for corporate bond trading on the New York Stock Exchange (NYSE), the BondDesk ECN and IB's market-making affiliate Timber Hill, starting on Dec. 21.

Bonds are the latest addition to IB's Universal Direct-Access Platform that already offers trading in equities, ETFs, options, futures and foreign exchange in more than 50 markets in 14 countries from a single account.

IB customers will be able to directly enter bond orders on the IB platform as easily as they do for equities, derivatives or currencies.

IB SmartRouting order routing system will then dynamically seek the best price available among the three debt-trading venues, delivering immediate execution on the NYSE or Timber Hill, if they display the best available price. If the BondDesk ECN is at the best price, SmartRouting will send the order to that destination.

The NYSE operates the largest U.S. centralized bond market, offering more than 2,000 bonds, mostly corporate issuances, but also government and agency debt. These issues are traded on the NYSE Automated Bond System (ABS), a terminal-based system used by NYSE member firm subscribers, such as Interactive Brokers Group, the parent of IB and Timber Hill.

The BondDesk ECN is an electronic fixed-income securities marketplace executing an estimated 10 to 20 percent of U.S. retail fixed-income trades.

"We anticipate growing interest for direct-access fixed-income trading because investors have already learned to appreciate the benefits of electronic trading for equities and derivatives," said IBG Chairman Thomas Peterffy. "Direct-access increases transparency, which usually leads to greater liquidity and enhanced investor confidence."

A leader in low-commission brokerage services, IB will charge a fee of $1 per $1,000 of face value for bond orders. For orders with a face value greater than $10,000, the fee drops to $0.25 per $1,000 of face value, with a minimum of $5 per order.

IB's Universal is the low-cost gateway to global trading for stocks, ETFs, options, futures, foreign exchange and now bonds on over 50 exchanges and marketplaces around the world.


Source: Interactive Brokers

CONTACT: Isabelle Clary, Communications Director of Interactive Brokers,
+1-203-618-7711

Web site: http://www.interactivebrokers.com/


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