Between November last year and January , four new fixed income trading platforms entered the market . However , the surge in new trading venues is causing a " liquidity crisis " in global bond markets . Joanna Cound, head of public policy EMEA at Blackrock and a member of the ICMA board, explained this has led to liquidity in fixed income markets suffering, something regulators have taken a greater interest in over the last year. Despite an increase in volume and overall turnover , the bond market has seen a decrease in ratio turnover , according to a report published by the International Capital Market Association . However , the report suggests this presents an opportunity for buy - in firms to act as " price makers " rather than " price takers " .
Between November last year and January , four new fixed income trading platforms entered the market . However , the surge in new trading venues is causing a " liquidity crisis " in global bond markets . Despite an increase in volume and overall turnover , the bond market has seen a decrease in ratio turnover , according to a report published by the International Capital Market Association . However , the report suggests this presents an opportunity for buy - in firms to act as " price makers " rather than " price takers " .