17th Pricemaker joins Yieldbroker Dealer & Client market Sydney, 14th July 2010 – Yieldbroker Pty Limited (“Yieldbroker”) has announced that four new banks have joined its Dealer & Client market over the past few months. The addition of Bank of America Merrill Lynch, Barclays Capital, Credit Suisse and Nomura means that clients can now access 17 pricemakers on the trading platform. Commenting on the increase in bank participation the Manager Director of Yieldbroker, Richard Swift, said “Our buy-side clients are delighted they can now access all market pricemakers in Australian and New Zealand debt markets, providing unprecedented liquidity and price transparency. “ He added, “Going forward we hope to leverage this broad participation across buy and sell-side institutions to co-operatively develop dealing solutions that benefit all debt market participants. Importantly, we are currently rolling out a number of functionalities that will facilitate straight-through-processing in debt markets with more initiatives to follow.” All the new banks emphasised the importance of Yieldbroker to their involvement in the domestic bond market. Credit Suisse’s Kenneth Brier, Managing Director, Head of Non-Japan Asia Rates trading commented: "Yieldbroker is a dominant trading platform for the Australian bond market so being a dealer participant is paramount. The system has evolved over its life to serve as a highly efficient tool for banks as well as our clients. Credit Suisse is continuing to strengthen our AUD bond business and we look forward to a long partnership with Yieldbroker". John Keith, Managing Director, Fixed Income of Nomura Australia added: “Nomura sees Yieldbroker as a useful part of our daily trading with domestic clients. We are pleased to participate in its continued evolution both by way of scale and product.” Matt Juracich, Managing Director - Head of FICC Sales for Bank of America Merrill Lynch said: “Bank of America Merrill Lynch provides a full service platform for Australian fixed income investors in domestic & international credit, rates & inflation products. The recent Fixed Income, Currency and Commodity build out is part of our plan to build a pre-eminent financial services organisation within Australia. We view Yieldbroker as an important client platform in achieving our goals.” Commenting on the participation agreement, Luci Febo, Head of Distribution for Australia at Barclays Capital said: “As Australia’s most effective research provider and trading platform for the fixed income market, Yieldbroker further enhances our ability to provide best in class fixed income products and services to the benefit of both our Australian and global clients.” Clients wishing to enable trading with any of the new banks can contact the Yieldbroker helpdesk on 1800 220 550 or helpdesk@yieldbroker.com About Yieldbroker
Commencing operation in 2001, Yieldbroker’s Dealer & Client market has become the dominant electronic trading platform in the local debt marketplace. An Interdealer market was added to the platform in 2007. Yieldbroker also operates an auction system that is utilised by AOFM for the issuance of Australian Government Treasury Bonds, Treasury Indexed Bonds and Treasury Notes, by the RBA to conduct long-end liquidity operations and by a number of semi-government borrowers. For more information about Yieldbroker, please visit www.yieldbroker.com For further information contact: Richard Swift Matthew Juracich Luci Febo Kenneth Brier James Land
| |
