Evolution of Electronic Trading and Market Structure in the Fixed Income Markets

Wednesday, October 16, 2013 ( 5:00 pm to 6:00 pm )

Location: Babbio 122 & Babbio Atrium

Heath Lecture Series - Fall 2013

Evolution of Electronic Trading and Market Structure in the Fixed Income Markets




  • Thomas Thees,CEO, BONDS.com Group Inc.
  • October 16th, 2013
  • Babbio 122 at 5pm. Social and refreshments at the Atrium


Evolution of Electronic Trading and Market Structure in the Fixed Income Markets

The evolution of electronic trading, while viral and hyper-speed in equities, has barely begun in the Fixed Income markets.   “If credit traders were frozen in ice in 2001 and thawed out in 2013, they would be incredulous at the lack of progress, at least on the institutional side. Considering the proliferation of platforms back then, it is worth asking what went wrong and why momentum stalled over the intervening decade” says Jake Thomases in his piece in Waters Tech titled the “Lost Generation of Corporate Bond Platforms”.  Tom Thees will discuss why that is all about to change and the variety of factors, including regulations such as Dodd-Frank and Basel III along with the pressures and burdens now placed on the world global banking franchises, will demand a fast track to a better way to trade electronically in Fixed Income.


Thomas Thees became CEO of Bonds.com, an electronic fixed income trading system, in June 2012. Mr. Thees brings thirty years of industry expertise and experience in building both traditional and electronic fixed income businesses and operations, and is a recognized leader in global financial services. Prior to joining Bonds.com, he served most recently as Head of Investment Grade Credit and formerly as co-head of Fixed Income for Jefferies & Co., and previously served as Chief Operating Officer of MarketAxess Holdings, Inc. Mr. Thees spent 17 years in senior management positions of increasing responsibility at Morgan Stanley & Co., 5 years at Goldman Sachs Group, Inc., and also Citibank NA, and A.G. Becker & Co. He has served on the Board of Directors of the Bond Market Association (now SIFMA), including as Chairman of its Investment Grade Committee. In addition to his board membership at HEART 9/11, he is a member of the Georgetown University Board of Regents, and completed his tenure as the Interim CEO and Board Chairman for the Visiting Nurses Association Health Group in NJ. He graduated from Georgetown University with an AB degree in International Relations, where he was a George F. Baker Scholar.