Interesting move by Nasdaq to buy eSpeeds US Treasury business from BGC Partners (the old Cantor Fitzgerald IDB).
The move does not include other products, but only the fully electronic segment for the liquid or ‘on the run’ US Treasuries (2, 3, 5, 7, 10 and 30yr notes and bonds)
According to Bob Greifeld, chief executive officer at Nasdaq OMX..
“It’s important to recognise that the US Treasury market is the most similar to the US equity market in its construction and operation,” said Bob Greifeld, chief executive officer at Nasdaq OMX.
“The under-pining of technology is something we are familiar with and we believe is in our power zone.”
eSpeed gives it a strong entry point in the electronic fixed income business – one of the largest and most liquid cash markets in the world – as it looks to diversify beyond its core of stock trading, where volumes are depressed.
Press release from BGC Partners here
More coverage here and here and here
Filed under: OTC, Paul Blank, Web trading technology |
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