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Products & Services > Bonds > Bond Market Exchanges International Bond Trading

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Where can I buy bonds? Sovereign Bonds Debt

 

North America - Canada, Mexico & USA - US Bonds

Log in or call us for more information about products traded, order types available, and exchange websites for any of the Market Centers listed below.
 

Country/Region

Market Center Details

Products

Hours

United States of America Flag

United States

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

Please Note:

Trading hours and products offered vary by exchange.

How are bonds different than other securities when it comes to trading?

Unlike stocks and 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 a 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.

 

 

 

Quick Links:

 

 

How to find bonds - Bond Search Query (in TWS)

To access the Bond Search tool Technical Analytics > Bond Search > Bond Search Query

Quick Link: US Corporate and Municipal Bond Scanners

 

How to access the Bond Search tool

From the Analytical Tools menu, select Bond Search.

The query opens in the browser, and comprises three main parts:

 

How to Trade Bonds 

The Quote Monitor > Trade Bonds

 

Bond Indicators

 

Bond Margin Requirements

 

Bond Commissions

 

How to Upgrade Trading Permissions for Bonds?

 

 

 

 

 

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