Bondcube Emea Limited (08935695): administration
- Status
- Administration ended
- Administration began
- 2015-07-23
- Administrators
- Simon Harris, Cameron Gunn, Mark Supperstone
- Administrators' firm
- ReSolve
- Incorporated
- 2014-03-12
- Location
- London
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- Regulatory change or action
- Cash flow / liquidity pressure
From the administrators' statement
Bondcube Limited (BL) and tts subsidiartes, Bondcube EMEA Limited (EMEA or the Company) and Bondcube Inc (Bl) (together Bondcube or the Group) were incorporated in 2012, 2014 and 2014 tespectively
Following the banking crisis in 2008, new regulation resulted in banks reducing capital for pricing bond buyside order flows This resulted in only the most liquid 30 per cent of bonds being supported by the bank pricing structure. Bondcube was formed to provide a mechanism for finding liquidity in the other 70 per cent of the market
Bondcube commenced development of a platform (the Platform) to provide a solution for liquidity for large and tlliquid trades in the fixed income markets The Platform allowed for buy-side and sell-side fixed income dealers to input indications of interest and receive potential order matches that could then be negotiated and traded.
Administrators' statement of proposals (2015-09-03) · Companies House register