Yieldbroker announced today that its clients are now able to trade Floating Rate Notes (FRNs) on the new "Yieldbroker DEBTS" dealing system.

Yieldbroker's Richard Swift, said that "DEBTS is the first multi-dealer trading platform to specifically facilitate FRN trading in Australia" and described the launch of FRN trading as "an important step in a long term plan to broaden the security types available to its clients and participants".

FRNs, which are similar to bonds with a dynamic coupon based on the bank bill swap rate, have become an increasingly important investment instrument for fixed income portfolio managers. According to Yieldbroker's Client Relations Manager, John Kimpton, "turnover in FRNs has grown rapidly in recent years and our decision to facilitate trading in FRNs is in response to strong demand from our client base".

Yieldbroker users - predominantly fund managers and investment banks - collectively form Australia's most noteworthy source of liquidity in interest rate securities. "Yieldbroker is the dominant electronic trading platform in the Australian market and we believe we capture around 25% of client's fixed income turnover" said Kimpton who believes that "electronic trading will continue to increase its share of market turnover as performance pressures and compliance obligations encourage fund managers to seek more competitive and efficient deal execution".

The Yieldbroker DEBTS trading application was released to buy-side users late in 2005 and has recently been adopted as the primary interface for most sell-side users. "DEBTS represents a new era of technical potential for Yieldbroker's participants. It will be our primary focus for functional enrichment over the coming months and years" says Swift.

"DEBTS has been built from the ground up using .NET technology from Microsoft and takes advantage of the latest possibilities in application security, rapid development, and boasts a simple yet flexible implementation and deployment model. The user interface has been designed to be instantly familiar to any user already confident with the 'feel' of Microsoft applications".

For more information on Yieldbroker, please contact Richard Swift or John Kimpton on 1800 220 550 or email