Convergex Group LLC is considering either starting its own electronic Treasuries trading platform or giving its customers direct access to that market within the next two years, the head of the agency-focused brokerage said on Monday. "We are spending our time here looking at the fixed income market, and Treasuries more specifically, to see what kind of model we can introduce there," Convergex's Chief Executive Officer, Eric Noll, said in an interview.
The New York-based firm operates a private electronic trading venue for stocks and is weighing whether to start one for Treasuries, due to demand from its institutional investor clients, he said. Noll was instrumental in Nasdaq Inc's $750 million purchase of Treasuries trading platform eSpeed from BGC Partners Inc in 2013, when he was head of UK and US transaction services at the exchange operator.