Once dominated by deals done on the telephone, electronification is coming to corporate bonds — but the real value may end up being in the data generated by trading.
Computer algorithms have been taking over trading since the turn of the millennium. And with everything from equities to interest rate swaps having fallen to automation, the multitrillion-dollar corporate bond market — one of the few still dominated by voice trading — is starting to witness the rise of the algos on its own turf.
https://www.fnlondon.com/articles/big-data-signals-big-changes-in-the-corporate-bond-market-20190311
