State of information technology support for traders in fixed-income markets

A fixed-income security is defined as one whose income stream is fixed for the duration of the loan and where the maturity and face value are known. It is estimated that the global fixed-income market is about $40 trillion with the US having the lion's share of $19 trillion. There were at least 74 trading platforms in North America and Europe in 2004. However, it is estimated that only about five percent of fixed-income trade is performed …