FIXCITY will pilot ioinet fixed income with a selection of brokers and buy-side firms and plans to officially launch the module as soon as it is fully endorsed. ioinet provides a centralised repository, accessed via the ioinet web interface or a single FIX connection, for holding IOIs received from the broker community. These are distributed using IOI targeting tools, providing an efficient way for brokers to notify target buy-side firms about their debt liquidity.
The IOIs include information on the volume available, price and how long the indication is valid for. The buy-side can then choose to receive messages on the instruments they are most interested in and also those with similar attributes, without having to show their hand and request a quote. Dealers are able to create instrument and portfolio specific watchlists.
Will be a shame if this really is only sellside iois to buyside .. so no sign of executable bid lists