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BondVision to offer US Treasuries
Milan, 12 December 2005 – BondVision
S.p.A. today announces the addition of US Treasuries to
its product complement with effect from January 2006.
The inclusion of US Treasuries represents a major extension
of BondVision’s services and significantly expands
the range of securities available for trading on Europe’s
premier multi-product, multi-currency dealer-to-client
market. The decision to list US Treasuries reflects strong
demand from investors and serves to extend BondVision’s
services beyond Europe.
BondVision will initially list 'on-the-run' and other benchmark
US Treasuries. In addition, US Treasury bills, index-linked
bonds and ‘principal strips’ are expected to
be added to the portfolio in line with the Company’s
services in respect of European government securities.
Gianluca Garbi, CEO of BondVision S.p.A, commented: “We
are delighted at the prospect of offering, alongside our
dealer partners, US Treasuries as an aspect of our ongoing
commitment to provide clients with the broadest access
to the pan-European fixed-income market and beyond. Clients
who wish to trade in US Treasuries will now be able to
avail themselves of the functionality and efficiency that
is synonymous with BondVision.”
BondVision dealers which have already expressed their support
for US Treasury trading include: ABN Amro, Barclays, Caboto,
DrKW, Lehman Brothers, RBS Financial Markets, UBM and UBS.
Other BondVision dealers are expected to follow suit shortly
with no additional membership fees required from existing
dealers. As with all BondVision products, investors trade
free of charge.
Harry Harrison, Managing Director and Head of US Dollar
Trading at Barclay’s Capital, commented: "BondVision's
expansion into US Treasuries will provide Barclays Capital's
clients with additional access to our valuable BARX pricing.
This development extends BondVision's established efficiency
and price discovery to an additional segment of the global
bond market and provides additional flexible distribution
for BARX."
John Tiktinsky, Head of US Treasury Trading for RBS Financial
Markets, commented: “As a recent participant on BondVision
for European Government bonds, RBS is pleased to expand
the product range we offer to include US Treasuries. The
BondVision platform will enable us to offer our European
customers additional means of accessing the liquidity of
our US primary dealership, RBS Greenwich Capital, in their
local time zone.”
Paul Humphrey, Global Head of eBusiness at ABN Amro, commented: “The
inclusion of US Treasuries in BondVision’s offering
is excellent news for the European investment community
which will translate this into a plus in terms of efficiency,
liquidity and price discovery.”
BondVision is unique
in that it offers investors access to the acknowledged
liquidity of MTS, the leading interdealer
electronic market for European fixed income. BondVision
has witnessed marked growth in 2005 with turnover up 40%
on the year and volumes reaching a monthly record of €46.5
billion.
The BondVision market continues to attract high quality
business from institutional investors, which account for
82% of overall turnover, with the average transaction size
currently in excess of €9 million. The client base
encompasses more than 250 members, representing a 43% increase
compared with 2004, and is expected to expand further in
response to BondVision’s receipt of regulatory approval
to service Swiss clients. Meanwhile, benefiting from a
tiered fee structure, dealers have enjoyed a reduction
in fees of up to 40%. Ranked by Italian clients as the premier execution tool
once again in 2005, BondVision also became the system
of choice for French clients this year. During the year,
BondVision
expanded its portfolio to include additional non-government
bonds with a total of more than 1,000 bonds now eligible
for trading.
For further information please contact:
Notes to Editors:
BondVision
Powered by MTS, Europe’s leading fixed-income
wholesale market, BondVision is the only regulated Internet-based
multi Dealer-to-Client Market with an ISD European passport.
Institutional clients connect via the Internet and request
quotes from competing Dealers prior to trading at the best
incoming price. BondVision Dealers are also members of
the network associated with MTS Markets’ wholesale
trading platform. Listed securities include euro-denominated
Sovereigns, Agencies, Asset-backed securities and corporate
bonds. Local currency sovereign issues from Central European
countries are also listed. Cash and Switch trading are
supported. Clients trade on BondVision free of charge.
For further information, please go to www.bondvision.net
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