CBID Markets, an anonymous fixed income alternative trading system launched in July, reports that it has traded over $1 billion in Canadian debt market instruments.

CBID’s institutional ATS is available to registered dealers, institutional investors, governments, and pension funds. The institutional ATS is accessed either though the CBID Application Program Interface or ixTrader, a stand-alone proprietary electronic fixed income execution desktop application.

CBID Markets says that its institutional marketplace is Canada’s only venue for both dealers and institutional investors to trade in a live real-time marketplace on an anonymous basis. Its participant base already includes a number of significant Canadian dealer and buy-side firms. The firm aims to be a leader in improving the liquidity and efficiency of the Canadian debt markets.

“CBID Markets’ institutional ATS offers a new source of liquidity and price transparency for Canadian bond market participants”, said Laurence Rose, president and CEO of CBID Markets.

CBID Markets now operates two marketplaces for fixed income trading, directed separately at institutional participants and retail participants. CBID Markets has separately operated a retail marketplace that is Canada’s first and only electronic multi-participant marketplace directed at retail market dealer participants. The retail marketplace was launched in 2001 and it is the only opportunity for retail intermediaries to buy and sell fixed income securities in an open electronic marketplace in which multiple dealers compete on price for business.

Through its electronic marketplaces, CBID Markets now supports live electronic trading of Government of Canada and Canadian Federal Agency bonds, Provincial bonds, Municipal bonds, Corporate bonds, Strip Coupon bonds, and Money Market securities.