It’s another step toward transparency in a market where hyper-competitive banks have historically hoarded pricing information. The banks will contribute data to Aladdin via BondCliQ Inc., which describes itself as “creator and operator of the first and only consolidated quote system for US corporate bonds.”
“This partnership presents pricing data uniformly to all buy-side clients, just like the US equity market, so there is equal access to information,” Chris White, BondCliQ founder, said in an interview. “According to history, adoption of centralized pricing data will lead to improved secondary market liquidity and greater market integrity for both retail and institutional investors.”