J.P. Morgan Increases Investment in Leading Australian and New Zealand Electronic Trading Platform
Hong Kong and Sydney, February 19, 2020 – Yieldbroker, the leading Tier 1 licensed electronic trading platform for Australian and New Zealand debt securities and derivatives, today announced that J.P. Morgan has made a second investment in the business. Yieldbroker’s activity has doubled over the past year, with turnover in excess of AUD $6 trillion.
J.P. Morgan has been a shareholder of Yieldbroker since 2008. This increased investment doubles J.P. Morgan’s voting stake in Yieldbroker from 4.25% to 8.5%, signalling the firm’s strong support for the future of electronic trading, and the efficiencies and transparency it delivers.
“Yieldbroker has been a major force in the development of the electronification of the Australian and New Zealand Fixed Income markets for more than 20 years,” said Brad Castellano, Head of Rates Trading, J.P. Morgan, Australia and New Zealand. “This increased investment reflects J.P. Morgan’s commitment to Australia and New Zealand, and to providing market-leading trading capabilities to our clients.”
Anthony Robson, Chief Executive Officer, Yieldbroker said, "Electronic trading will continue to accelerate and provides the transparency, efficiency and security that is critical for local and global investment communities, banks and regulators.”
Yieldbroker’s focus has diversified to include data and analytics, which helps facilitate building important links with the global investment community, as well as extending the business across linear Fixed Income products including Bonds, Credit, NCDs, Swaps and Repo.
Mr Robson continued, “J.P. Morgan has been active in Yieldbroker’s development and growth over the past 12 years as we have remained at the forefront of market structural changes and developments. This increased investment is a logical next step in our partnership, and supports our strategic development priorities.”
In September 2019, Yieldbroker established its first international office in Singapore, having received recognition as a Recognised Market Operator by the Monetary Authority of Singapore (MAS).
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $26 trillion of assets under custody and $485 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com
Yieldbroker provides the systems infrastructure, regulatory framework and compliance oversight necessary to facilitate the growth of orderly electronic marketplaces in Australian and New Zealand debt securities and derivatives. Commencing operation in 2001, Yieldbroker’s dealer and 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 the Australian Office of Financial Management (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. Yieldbroker also provides the mechanism used to set the expiry price of local Australian Bond Futures Contracts for the Australian Securities Exchange (ASX), as well as one of the main pricing contributors for the ASX when determining the key Bank Bill Swap Rate (BBSW), the official benchmark for floating rate bonds and other instruments. Yieldbroker is a Tier 1 license holder and Recognised Market Operator from the Monetary Authority of Singapore (MAS).More information about Yieldbroker is available at www.yieldbroker.com
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