NASDAQ OMX Taps BondDesk for Real-Time Pricing Data to Support New Treasury
NEW YORK, March 6, 2013 (GLOBE NEWSWIRE) -- BondDesk Group LLC and The NASDAQ
OMX Group, Inc. (Nasdaq:NDAQ) announced today that BondDesk was chosen by the
exchange group to provide the real-time pricing data needed to support the
recently launched options on U.S. Treasuries trading on the NASDAQ OMX PHLX^SM
(PHLX^®) exchange. BondDesk has licensed its real-time Treasury pricing data
to PHLX for use by its member firms and will provide access to the BondDesk
ATS for trading the underlying Treasury securities. The BondDesk ATS is the
largest odd-lot fixed income trading venue in the United States.
PHLX recently launched exchange-traded options on U.S. Treasuries, overlaying
the most recently issued "on-the-run" 10-year notes and 30-year bonds which
allow investors to hedge interest rate risk with more precision. The new
options provide flexible, cost-efficient investment vehicles and may be traded
by qualified investors in securities brokerage accounts. BondDesk's real-time
Treasury pricing data is used to determine the opening and settlement values
of the options and support PHLX's market, regulatory and surveillance
"BondDesk was the logical partner for us given their leading position in the
retail Treasury market," said Tom Wittman, Head of U.S. Options and Futures at
NASDAQ OMX. "The amount of liquidity and trading that takes place on the
BondDesk ATS gives us great confidence in the quality of their pricing data
which we feel best represents the overall Treasury market."
"It's great to have a firm like NASDAQ recognize our prices as a leading
benchmark for valuing Treasury bonds," said John Bagley, President of BondDesk
Trading. "The BondDesk ATS can also provide an efficient venue for trading the
underlying Treasuries. Today the ATS has over $40 billion in live Treasury
liquidity and handles trades ranging from $10,000 to as large as $20 million."
To obtain the BondDesk benchmark Treasury data and access the BondDesk ATS to
trade the underlying securities, please contact Steven Shaw at
email@example.com or 212-808-0010.
BondDesk Group LLC is a leading financial technology company providing
innovative, enterprise-wide fixed income solutions to a community of over
2,000 investment firms, including many of the top broker-dealers in North
America. BondDesk's workstation solutions, including its flagship BondWorks^®
Wealth Management Platform, enable over 105,000 financial advisors and asset
managers to trade bonds with confidence, manage client portfolios and attract
new assets. The company's industry-leading advisor workstation, price
transparency, portfolio management and compliance solutions empower wealth
managers to better service the needs of the investing public. BondWorks is the
first financial services solution to win the highly coveted "Best Application
Design" award from the Nielsen Norman Group (NNG), one of the world's leading
design and usability research and consultancy firms.
In addition, the BondDesk Alternative Trading System (ATS), operated by
BondDesk Trading LLC, member FINRA and SIPC, provides the BondDesk community
with access to an aggregated pool of over 120,000 daily live offerings of
odd-lot fixed income securities in a broad range of asset classes. The
BondDesk Trading ATS executes approximately 20,000 transactions per day with
high fill ratios and price quality. Access to the ATS is subject to review by
BondDesk Trading LLC.
BondDesk Trading LLC is a wholly-owned subsidiary of BondDesk Group LLC.
To learn more, visit www.bonddeskgroup.com, and follow @BondDesk on Twitter.
CONTACT: Jade Faugno
+1 212 754 5425
+1 212 754 5613
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