OpenBondX ATS to Launch in February
Backed by former Lime Brokerage CEO
The new alternative trading system (ATS) will feature a hybrid trading protocol known as RFFQ, or request for firm quote, to limit the common practice of 'backing away' in secondary bonds trading. In addition to the sell side, it will target a range of buy-side shops including asset managers, hedge funds, institutional investors, and advanced quantitative fixed income traders.
Alistair Brown, CEO at OBX and former chief at Lime Brokerage before its sale to Wedbush Securities in 2011, says the
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