Bonds platform takes algorithmic step

European electronic bonds trading platform EuroMTS has struck a deal with Fixnetix which will see the telecoms company deliver fixed-income data direct to its customers.

The trading platform deals in Eurobenchmark bonds from governments, including Austria, Belgium, Germany, Greece, Ireland, Italy and Spain, in volumes of more than €100bn per day.

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The service was chosen because the Fixnetix offers ultra-low latency throughput, allowing MTS' customers to receive real-time bond data at very high speed, direct into their automated trading systems.

EuroMTS head of market data, Rafah Hanna, told silicon.com this facility opens the platform up to algorithmic programme trading, a process where human decision-making is replaced with rules-based automated trading at high speed.

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He said: "Many of MTS' investment bank partners will find this deal an important development, as it gives them a direct feed for bond market data, rather than going through a traditional data feed [such as Reuters or Bloomberg]. It is also important to us because it opens up another user base interested in algorithmic program trading."