TMCnet News
Corporate Bond Pricing Initiative, BondCliQ, Hires Paul Faust, Former BlackRock ExecutiveBondCliQ, the corporate bond market's first central market system, announces the addition of former BlackRock executive, Paul Faust, as Head of Strategy and Product Development. Paul will be responsible for working with sell-side dealers on integrating their pre-trade quotes into the US corporate bond market's first consolidated quote screen. "The credit market is finally coming around to understanding that the block liquidity freeze is really a data issue, not an e-trading issue," said Faust. "I couldn't be more excited to join BondCliQ's efforts to improve the institutional market for both dealers and buy-side institutions." "Paul's background as a buy-side and sell-side trader is critical to ensuring that we build the right solution for the market," said BondCliQ CEO, Chris White. "In addition, Paul has experience developing best-in-class front end technology through his involvement with the Aladdin OMS, making him a perfect addition to our team." Paul Faust's hire is the latest sign of the growing momentum at the 18-mont old startup that has already launched a post-trade data visualization screen which is being used by 3 of the 10 top US asset managers. The consolidated pre-trade screen is in beta, with launch due next quarter fueled by 8 dealers who are already contributing their pre-trade quotes and an additional 8 dealers in the procurement process. About BondCliQ: BondCliQ is the first central market system for US corporate bonds and is designed to improve institutional trading in the $10 trillion credit market. The concept is certified by history as a key building block to market modernization and provides meaningful benefits to all market participants including sell-side, buy-side, platforms and regulators. The BondCliQ central market system:
The BondCliQ Team is uniquely qualified to bring an innovative solution to the US corporate bond market because of their invaluable experience in fixed income technology and market development including senior roles at Goldman Sachs, NYSE, MarketAxess and TruMid. To read more visit www.bondcliq.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180118006349/en/ |
