The service, which the firm hopes to roll out in October, will give traders access to over 5,000 investment grade and high-yield corporate and government bonds in 20 different currencies, Saxo said.
“Saxo’s digital bond trading solution will connect traders with the entire global bond market in a direct, competitive, transparent, and efficient manner,” commented Saxo Capital Markets Australia chief executive Ben Smoker.
The service will be available to retail and institutional clients and will allow trading orders to be executed within seconds. It should result in an average 30 per cent price improvement for corporate bonds, and an average 5 to 10 per cent improvement in government bonds, Saxo said. It will be facilitated through one of the 40 bond liquidity providers that traders will have access to.
“Large institutional investors have had access to fixed income electronic trading for a long time. We’re now enabling retail investors to access an efficient, cheaper and digitised solution, effectively disrupting traditional financial services and levelling the playing field,” Mr Smoker added.
The digital bond trading service will be rolled out on the company’s multi-asset trading platform, SaxoTraderGO.
