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Fixed-Income Subscription
We examine the evolution of the fixed-income market, the products, platforms, the role of dealers, institutional investors, and emerging liquidity providers, and the impacts of new and expected regulation.
Our independent third-party analyses form the basis for senior sell-side management to benchmark their client businesses, identify revenue opportunities, assess service quality, and optimize allocation of resources.
In 2020, India made a clear pivot away from tightly managing foreign access to its bond market toward a market structure that embraces global demand. The Fully Accessible Route (FAR) was the turning point.
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The expanding role of NBLPs: Inside FY25 revenue growth
Greenwich Report
As we noted last year, while the importance and influence of the largest traditional banks in global markets cannot be overstated, the gravitational pull of the “bulge bracket” nonbank liquidity providers (NBLPs) continues to intensify.
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Vibe coding is a big deal for capital markets
Greenwich Blog
Despite the distinctly Gen Z name, vibe coding isn’t just for kids.
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Fixed-income TCA adoption is set for growth as future intent surges
Greenwich Report
Interviews with fixed-income professionals working at buy-side firms reveal a significant shift in sentiment toward transaction cost analysis (TCA), even as current adoption rates remain stable.
U.S. corporate bond investors on growth, e-trading and ETFs
Greenwich Report
Our 2025 Voice of Client Study for the U.S. corporate bond market included interviews with 145 traders and portfolio managers at asset managers, hedge funds and insurance companies.
The Coalition Investment Bank Index, which tracks the performance of the 12 largest investment banks globally, demonstrated robust performance in FY25, rising 14.5% year over year to $174.7 billion.
Lower capital requirements set to unleash bank market-making
Greenwich Report
For the past two years, U.S. global systemically important banks (G-SIBs) have operated under a regulatory overhang. Fearing a punitive Basel III endgame that initially threatened a ~20% hike in capital requirements, the industry built significant...
The derivatives industry: Trends and implications
Greenwich Report
Derivatives volumes grow and shrink based on a long list of factors, including trading firm goals (e.g., speculation, hedging), the state of the underlying markets (e.g., energy, agriculture) and changes in market structure (e.g., electronic trading...