A fisheye view inside the HSBC headquarters in Hong Kong Nov. 3, 2015. (REUTERS/Bobby Yip)
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Goldman Sachs, the biggest standalone U.S. investment bank, shuttered its GSessions electronic bond-trading platform in 2014 .The relationship between bank dealers and investors has persisted despite post-financial crisis curbs on banks' ability to buy and sell corporate debt that make it more expensive and time-consuming for fund managers to trade.Deutsche Boerse said it took a 3.9 million-euro loss on Bondcube in the second quarter and a loss of as much as 700,000 euros in the third quarter.About 20 percent of investor grade corporate bond trading occurs electronically and most of that happens only in liquid names and smaller trade sizes, according to MarketAxess.Of the 50,000 corporate bonds outstanding last year, around 30,000 traded at least once in the secondary market, while just 1.1 percent of those traded every day, and 27 percent traded at least once a month, according to MarketAxess.
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