Odd Lots Episode 2: Under the Hood of the $8 Trln Corporate Bond Market
6 snips
Nov 16, 2015 Chris White, creator of a Goldman Sachs bond trading platform, discusses the complexities of the $8 trillion corporate bond market. He shares insights on the resistance to change in the market, the evolution of electronic bond trading platforms, and the challenges in fostering innovation at traditional financial institutions.
AI Snips
Chapters
Transcript
Episode notes
Bond Market Stages
- Bond markets evolve through three stages: physical, hybrid, and automated.
- Currently, bond markets transition from physical (direct human interaction) to hybrid (screen-mediated interaction).
Market Size and Infrastructure
- Market growth necessitates new infrastructure, like the subway system in a growing city.
- Equity markets have seen this growth, necessitating tech, but bond markets haven't until recently.
Liquidity: Resource or Service?
- Liquidity is subjective and often misunderstood, similar to beauty.
- Is it a natural resource harvested by networking or a service provided by someone?