bondexchange

Bondexchange refers to a marketplace or platform where investors can trade fixed-income securities such as government, corporate, and municipal bonds. While stock markets are usually centralized, bond trading has historically occurred over-the-counter, though many countries now maintain formal exchanges or electronic platforms to improve price discovery and transparency.

Instruments traded include government bonds, corporate bonds, municipal bonds, and asset-backed securities. Bonds are typically issued in standardized denominations and quoted by price or yield. The primary market issues new bonds; the secondary market trades existing issues. Because many bonds are customized in terms of call features, covenants, and maturities, a portion of trades occurs OTC via broker-dealers, while lit venues provide order books for select issues.

Platforms may be dedicated venues run by exchanges or electronic brokers. They offer centralized order books, pre- and post-trade transparency, and straight-through processing to settlement systems. Notable platforms include electronic fixed-income marketplaces and exchange-operated bond trading sections; in some regions, major venues provide liquidity through broker-dealer networks.

Regulation and market structure vary by jurisdiction. Regulators oversee trading venues, reporting, and settlement risk. Market data from bond exchanges supports price discovery, risk management, and portfolio valuation.