By David Nicol, CEO of LedgerEdge

In the current market if a trader wants to find out information on a bond, whether they are buying or selling, or creating a portfolio, they have a wide variety of sources, from data service providers to counterparts in the market who price a bond at a certain level. …


Robert Bose, CTO of LedgerEdge evaluates distributed ledger technology as the basis of seeing a shared version of the truth in corporate bond trading

The efficient market hypothesis in financial economics states that asset prices reflect all available information. In reality, all markets are inefficient, no one has perfect information, and users compete in a complex system. Distributed ledger technology (DLT) allows us to reimagine the status quo and create new, better marketplaces.

Market participants must trust the system rules and enforcement to trust that the system is working as expected, others are following the rules, and they are seeing…


Charlie Gibson, Business Development Director at LedgerEdge, writes about the importance of human interaction and a user-centric design

The same technological forces that reduced costs and increased liquidity in the equities market are destined to disrupt the corporate bond market. The human user experience is key to marrying liquidity and trading styles — from login through to execution, it should be a smooth and intuitive process. It’s time to listen to how the market trades rather than telling the market how to trade.

The hunt for yield requires targets that will provide a suitable risk-adjusted return relative to Treasuries. Crucially…


David Nicol, CEO of LedgerEdge challenges the current incentivization structure of trading platforms

Financial markets are set up like a game, a game played by exchanging data and executing trades. Players compete for different goals in a playing field where the rules are known and a referee — market surveillance — sits in the middle. Regulators set rules in various markets for who can play the game (licensed, accredited, retail) and how they play (no manipulation and so on). The scoreboard is shown to all players in the form of trade reports and — much in the news lately —…


LedgerEdge, the next-generation ecosystem for corporate bond trading, announces it has selected Yaala Labs, a provider of cloud-native capital markets infrastructure, to support its technology delivery.

The partnership will enable LedgerEdge to launch a global corporate bond trading venue built on distributed ledger technology, expected in the second half of 2021.

LedgerEdge was founded in 2020 to create a new ecosystem where participants can trade with conviction and clarity, addressing the core liquidity problem in the $41 trillion corporate bond market.

Yaala Labs, founded by the team who previously led London Stock Exchange Group’s capital markets infrastructure technology business, is…


By David Nicol

London is a vibrant financial centre because of its fundamental attributes: pragmatism in rulemaking, clarity in the law, a fair system for dealing with infringements, and an international network of highly qualified finance professionals. Is this advantage under threat from Brexit?


David Nicol, CEO of LedgerEdge argues for a new, more nuanced and logical trading ecosystem for the corporate bond market

Could you imagine how difficult it would be to keep bond markets running during the pandemic, if traders were still in open outcry pits? Luckily the trading world is well past coffee houses and shouting masses: we’ve adopted telephones, then computers, then the internet as those innovations became available.

The old ways still work, but the real market winners excel past their peers through proficiency with better tools and methods. New tools and methods are available now, and the corporate bond market is ripe for an update.

Trading is a search for opportunities to profit from varied price convictions. All…


Elisabeth du Souich, Business Operations Manager at LedgerEdge

What do you think is the most interesting trend in the industry, and why?

As the least “tech” person in the team, I would struggle to answer this question so I will go back to a discussion I had with our CEO when I first joined. I always looked at the company where I worked and asked myself whether in a small way, I was helping making the world a better place. David told me that if we get our model right, we will improve one of the largest and most important…


Ian Chicken, COO of LedgerEdge

Tell us about your career to date

My career began at HSBC back in 1987 (which feels like a lifetime ago). It was even called Hong Kong Shanghai Bank then. They gave me a fantastic, well-rounded training in markets, and I learnt so much. After 13 years there including two years in Stockholm and a year in Paris, I left to join BrokerTec. I remember being interviewed for the role in December 1999 at One Poultry — clearly that was a good omen! When I joined BrokerTec, I think I was employee number five in…


Bob Bose, CTO at LedgerEdge

Tell us about your career to date

I started my working life writing software for a surface to air missile — excellent experience in the principles of low latency design! My next port of call was a small firm building real-time feeds from all of the available exchanges world-wide. This gave me my first experience handling streaming prices over a multitude of protocols, as well as building our own high performance in-memory database.

Having cut my teeth on market data, I went into trading systems. Firstly, at Tullett and then at CSFB, where a few of us joined a new…

LedgerEdge

LedgerEdge is delivering a fundamentally better ecosystem and experience for finding data, sharing data and executing trades in the corporate bond market.

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