Founded in 1999, BondDesk was the first alternative trading system (ATS) to focus on odd-lot bond execution and operates the industry's leading retail fixed-income trading platform.
In partnership with its broker-dealer clients – bulge-bracket firms, regional firms, online broker-dealers, and correspondent networks – BondDesk developed a highly comprehensive trading platform for financial advisors and fixed-income traders. Providing unmatched liquidity as well as superior pre-trade analytical tools, the ATS is geared toward making bond trading simpler and more efficient, while making bond prices more transparent.
Through its proprietary BondDesk ATS, clients access over 30,000 live taxable and tax-exempt security offerings and execute over 30,000 trades per day. More than 40% of financial advisors in the U.S. have access to the BondDesk ATS, representing over 120,000 brokers and investment advisors. Together, BondDesk’s technology and penetration of a large and growing client base have resulted in compound annual revenue growth of more than 25% from 2004 to 2008.
Advent acquired BondDesk from a consortium of dealers in 2006, with a view that odd-lot fixed income trading would move to more electronic venues, driven by the need for greater transparency for retail advisors and their clients. During its ownership, Advent invested significantly in the BondDesk technology infrastructure, which delivered a new front end to its retail clients, and enabled the business to onboard large new broker dealers. In 2013, Advent sold BondDesk to Tradeweb, a leading fixed income trading platform owned by Thompson Reuters and a consortium of dealers.