Best Execution in Fixed Income: A Work in Progress

Author(s):
Colby Jenkins, Anthony J. Perrotta, Jr.
Date:
July 20, 2016
Research Type:
Focus Note
Executive Summary

The legislatively-driven shift in fixed income in the wake of the 2008 financial crisis requires a reevaluation of long-standing execution standards. The proliferation of real-time trade data and regulatory initiatives driving the fixed income marketplace to new levels of transparency is the starting point in a race to a new definition of best execution. However, for credit market participants, many roadblocks remain. Pricing is central to the problem.

The time when market participants could independently benchmark their own execution performance in such a way to adequately satisfy internal compliance or fiduciary obligations is gone. These changes are particularly important to buy-side participants on both sides of the pond. Traditional metrics such as dealer quotes and TRACE feeds are no longer sufficient as stand-alone metrics for price discovery

 This TABB Group report, Best Execution in Fixed Income: A Work in Progress, examines the growing array of third-party TCA solutions within fixed income, the different approaches each solution takes to satisfying evolving best execution standards, and the ways in which these new tools can be incorporated into existing workflow.

Areas of Interest
  • Fixed Income
USD $5,000.00
You are not logged in for access or purchasing of products.
Please login above or contact TABB Group Sales for subscriptions or additional products.

Related Reports

More from the Author(s)

Fixed Income ETFs: Bridging the Liquidity Divide
Date:
May 19 2015
Author(s):
Anthony J. Perrotta, Jr., Colby Jenkins
Research Type:
Focus Note
U.S. Swaps 2015 : Paradise Lost?
Date:
May 07 2015
Author(s):
Colby Jenkins
Research Type:
Focus Note