November 3, 2022 – Over the past two years, portfolio trading has grown from a niche, small portion of the U.S. credit market trading landscape to one of the buzziest tools within the industry. How did we get here? The principle is by no means new. The means and technology/products that support it, however, are.

This report examines the pieces of the puzzle that got the market to what it is today and looks at how prevalent the tool is within institutional trading today, what its appeal is, and where Aite-Novarica Group expects it to go in the near- and long-term future. It is based on publicly available trading/market data, third-party provided estimates, proprietary Aite-Novarica Group calculations, and market participant interviews.

This 12-page Impact Report contains five figures. Clients of Aite-Novarica Group’s Capital Markets service can download this report and the corresponding charts.

This report mentions Barclays, BlackRock, Bloomberg, MarketAxess, and Tradeweb.