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Product Listings

Fixed Income - North America

Click on any Market Center Details link below to find details on products traded, order types available, and exchange website information.

Country/Region Market Center Details Products Hours

United States		 BondDesk Fixed Income (Corporates, Treasuries)
 8:00 - 17:00 ET
BONDLARGE Fixed Income
 8:00 - 17:00 ET
Knight BondPoint Fixed Income (Corporates)
 8:00 - 17:00 ET
Knight BondPoint for Munis Fixed Income (Munis)
 8:00 - 17:00 ET
Knight BondPoint for US Government Securities Fixed Income (Corporates, Treasuries)
 8:00 - 17:00 ET
MuniCenter Fixed Income (Munis)
 8:00 - 17:00 ET
NYSE Arca Bonds (NYSE BONDS) Fixed Income (Corporates)
 Monday - Friday: 800 - 1700
Tradeweb for Munis Fixed Income (Munis)
 8:00 - 17:00 ET
Tradeweb for US Government Securities Fixed Income (Treasuries)
Bills
 Monday - Friday: 730 - 1700
Tradeweb US Corporate Bonds Fixed Income
 Monday - Friday: 8:00 - 17:00

On some exchanges, different products have different trading hours.

Unlike other trading products with standardized market structures, bonds have certain peculiarities due to the decentralized nature of bond trading, including:

  • Bond quotes are not firm and order minimums can vary. Some TradeWeb and Knight BondPoint quotes may have a minimum size requirement that is not displayed. These factors can make smaller trades (<100k) extremely difficult to execute, and may preclude your order from being executed.
  • While NYSE Arca and Timber Hill Auto-Ex orders are immediately executable when marketable, TradeWeb and Knight BondPoint orders can take up to five minutes to become executable due to the manual nature of these market destinations.
  • NYSE Arca has a tick increment of 0.125 while TradeWeb, Knight BondPoint and Timber Hill Auto-Ex have a tick increment of 0.001. This difference in tick increment may determine the exchange on which your non-marketable order is held for execution.
  • Bond prices are specified as percentage points of the face value of the bond. Effective April 7, 2008, the face value for Treasuries, including T-Bonds, T-Notes and T-Bills is 100. Most other bonds have a face value of 1,000.
  • Some TradeWeb and Knight BondPoint quotes may have a minimum size requirement that is not displayed, which may preclude your order from being executed on this exchange.
  • Bonds with face value over USD 1,000,000 may be direct routed to BONDLARGE. All other bond orders are eligible only for Smart routing.
  • Click here for information on distressed bonds.
  • Buy side RFQs are not supported at ValuBond or MuniCenter.