Radianz says TheMuniCenter – an online fixed income distribution and trading platform – will use its network to make available its two-sided trading, price negotiation and analytical tools.
TheMuniCenter offers market participants live bond prices that are immediately executable; with its trading platform enabling users to trade secondary municipal, corporate, and agency securities electronically. Orders may be entered on new-issue Medium Term Notes, Certificates of Deposit, and equity-linked notes. The marketplace is supported by two-way price negotiation whereby users can post bids, offerings, and counters on every security listed.
Through the Radianz connection, TheMuniCenter will enable its users to provide ticketless trading and automated post-trade processing and reporting to clearing firms and regulatory bodies.
“We chose to work with Radianz because of its reputation as the top shared connectivity provider in the financial services industry,” says John Craft, director of business development at TheMuniCenter. “TheMuniCenter wants to help its users comply with the requirements of a real-time trade reporting environment, while providing connectivity redundancy in a disaster recovery scenario. Through Radianz, we will be able to offer enhanced, uniform connectivity to all of our business-to-business partners.”
“Real-time trade reporting is a significant step in the evolution of municipal and corporate bond markets,” adds Harrell Smith, analyst in the Securities and Investments practice at Celent. “Electronic trading platforms offering an integrated matching solution are well positioned to help clients meet the Municipal Securities Rulemaking Board’s new trade reporting requirements. Partnering with Radianz will help TheMuniCenter address these requirements and facilitate broader STP initiatives within fixed income markets.”
“TheMuniCenter is part of an increasing number of providers in the fixed-income space that are realizing the value of being a part of a shared infrastructure,” says Chris Church, Radianz’s EVP of strategic client development. “More and more firms are turning to Radianz for connectivity because of our pure focus on the global financial community and the critical mass we’ve achieved.”
TheMuniCenter was founded by a consortium of major broker-dealers in 1999. It has done business with more than 7,500 users at over 750 firms. TheMuniCenter’s Private Label Web Service has allowed firms to create an order management system for traders and brokers.