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(From Financial News (Daily))
Glox, a German-based company which provides brokers with access to stock and bond exchanges, has become the first firm to offer a connection to SWX Eurobonds, the multi-dealer fixed income exchange based in Switzerland.The connection will be the first of its kind and means that market makers and market takers who want to use the platform will not have to connect to the exchange directly. Direct access has proved so costly that many potential SWX members have so far failed to participate.
SWX Eurobonds, which went live in 1998, currently has 54 active participants and over 1000 trades per day. More than 1300 Eurobonds are traded on the exchange.
However, trading on the exchange - which is owned by SWX Swiss Exchanges - has so far been dominated by Credit Suisse First Boston - which posts most of the bids and offers on the exchange's order books. ...