Treasury Investors Smile and Dial as 62% of Trades Done by Phone
- N.Y. Fed releases study of typical April 2014 trading day
- Wall Street still dominates even as electronic firms gain
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Investors in the world’s biggest debt market still use the phone to do most of their trading, a practice that’s nearing extinction in areas like currencies.
Analysts from the Federal Reserve Bank of New York looked at activity in April 2014 and found that 62 percent of the $281 billion that investors traded daily with Wall Street banks was done over the phone, according to a blog post released Friday.