Bonds.com
Bonds.com operates the BondsPro ATS, an institutional electronic trading platform for corporate bonds connecting hundreds of broker dealers and asset managers via streaming, RFQ, and matching protocols, complemented by a FIX-based connectivity layer and executable bond pricing data. It is a subsidiary of Compagnie Financière Tradition serving the institutional credit market globally.
- Company typePrivate
- Founded2007
- HeadquartersHull, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Bonds.com does
Bonds.com is an institutional financial technology platform that operates the BondsPro Alternative Trading System (ATS) for US and global corporate bond trading. The platform connects hundreds of broker dealers, asset managers, and liquidity providers through live streaming, click-to-trade markets, and an all-to-all execution model, resting $60bn+ of at-market liquidity daily and providing executable pricing on over 200,000 corporate bond instruments across 22 trading hours per day. Its product portfolio comprises BondsPro ATS for core trading, a Direct Connectivity layer offering FIX 4.4 API and integrations with Bloomberg TSOX/TOMS, Charles River IMS, TradingScreen, TORA, TS Imagine, BondCliQ, MultiLynq, TransFICC, OpenFin, Ion, and Broadway, a Match matching protocol and an RFQ protocol introduced in 2025, and BondsPro Data, which delivers executable bond pricing for 20,000+ securities via GUI, API, or FTP with tick-by-tick historical coverage.
The business generates revenue through three streams: transaction and trading fees on BondsPro ATS executions, market data licensing via BondsPro Data, and connectivity and managed services for dealer-to-client price streaming, axes distribution, and post-trade STP, priced on flexible fixed or volume-based models under non-disclosed contact-based pricing. Bonds.com is a subsidiary of Compagnie Financière Tradition (CFT SW), which acquired the entity (then MTS Markets International) from Euronext in December 2022 and rebranded it back to the Bonds.com name in April 2023. Securities activity is conducted through FINRA/SIPC-member bonds.com, LLC, headquartered at 32 Old Slip, New York, with operationally stated coverage across 55+ countries and a corporate, US Treasury, European, and global/EM bond universe.
Bonds.com firmographics
Firmographics- Name
- Bonds.com
- Legal name
- bonds.com, LLC
- Website
- https://bonds.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Bonds.com operates the BondsPro ATS, an institutional electronic trading platform for corporate bonds connecting hundreds of broker dealers and asset managers via streaming, RFQ, and matching protocols, complemented by a FIX-based connectivity layer and executable bond pricing data. It is a subsidiary of Compagnie Financière Tradition serving the institutional credit market globally.
- Ownership category
- akta.pro rank
Bonds.com industry classification
Industry- Product category
- Institutional Fixed Income Trading Platform
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Investment Banking and Securities Intermediation (523150)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Corporate Bond Trading Platforms (FSAFACAB)
- akta.pro secondary industries
- Multi-Asset Alternative Trading Systems (ATS) / Multilateral Trading Facilities (MTF) (FSAFAEAC), Government Bond (Sovereign) Trading Platforms (FSAFACAA)
Keywords
Where Bonds.com is headquartered
LocationHeadquarters
- HQ city
- Hull
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Bonds.com business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Personnel, Marketing or Sales, Operations
Revenue model
- Transaction/Trading Fees: BondsPro ATS operates as an Alternative Trading System (ATS) for institutional corporate bond trading. Revenue is generated through transaction fees on trades executed through the platform.
- Market Data Licensing: Bonds.com provides real-time, historical, and executable bond pricing data sourced from institutional trading community. Data is delivered via GUI, API, FTP, supporting portfolio valuations, risk assessment, and trading automation.
- Connectivity Services: Dealer-to-client connectivity services providing turnkey solutions for price streaming, axes distribution, and trade execution. Flexible billing options including fixed or volume-based models.
Go-to-market motion3 records
Distribution channels8 records
Marketing channels3 records
Bonds.com product offering
Product offeringCore offering
Bonds.com operates the BondsPro Alternative Trading System (ATS), an institutional electronic trading platform for corporate bonds that provides live streaming, click-to-trade markets, and access to real-time liquidity and inventory from hundreds of broker-dealers and asset managers. The platform is supplemented by Direct Connectivity (a widely-used bond API and dealer-to-client infrastructure) and BondsPro Data (executable institutional bond pricing data across 20,000+ securities). It serves broker-dealers, asset managers, and liquidity providers with 22-hour daily trading access.
Product overview
Bonds.com is a financial technology platform offering institutional corporate bond trading, market data, and connectivity solutions. The core product is BondsPro ATS, an electronic trading platform providing real-time liquidity, live streaming, and click-to-trade markets. This core platform is supplemented by Direct Connectivity (a turnkey dealer-to-client API solution for price streaming and STP), BondsPro Data (executable bond pricing data sourced from the live order book), and Match (a new matching protocol launched in 2025). The platform connects hundreds of broker dealers and asset managers with $60bn+ of resting at-market liquidity daily.
Differentiator
Problem solved
Functional benefit
Products and services
- BondsPro ATS Institutional Alternative Trading System (ATS) for corporate bond trading featuring real-time liquidity and inventory from hundreds of broker-dealers and asset managers, live streaming and click-to-trade markets, advanced workflows for tiering, axes, and list trading, with $60bn+ of resting at-market liquidity daily and access to over 200,000 institutional corporate bond prices.
- Direct Connectivity
Quantifiable outcome
- $60bn+ of resting at-market liquidity daily
- +3 more outcomes
Companies that use Bonds.com
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Bonds.com technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
AI capability2 records
Feature6 records
Bonds.com partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and general.
- MultiLynqcoreMultiLynq provides multi-dealer messaging and connectivity capabilities for Bonds.com's RFQ protocol integration into the corporate bond order book.
- Charles RivercoreCharles River IMS integration with MTS BondsPro ATS enabling all-to-all access across global fixed income markets. Offering customers ability to interact with markets in the most natural way as defined by each client.
- BloombergcoreBloomberg TSOX direct trading access integration - BondsPro was the first unaffiliated electronic platform to have direct access connection to Bloomberg TSOX. The partnership won Best Collaboration Initiative and Best Partnership awards at Waters Technology Awards 2016.
- TS ImaginecoreTS Imagine TradeSmart EMS integration with BondsPro. Partnership revolutionizing buy-side trading experience with workflow automation. David Parker (BondsPro) and TS Imagine collaborating on fixed income execution management.
- TradingScreencoreBondsPro integrates with TradingScreen for greater client accessibility. Fitting into bespoke workflow that each customer develops on their own accord provides accessible, integrated service for trading.
- TORAcoreTORA OEMS deepens fixed income offering with BondsPro integration. Integration makes liquidity via BondsPro platform more widely available to TORA's global client base and easily accessible.
- BondCliQcoreBondCliQ users get BondsPro data for US credit market. Natural step towards establishing better price transparency by consolidating and centralizing corporate bond pre-trade information. Joint liquidity mapping tool launched.
- TransFICCgeneralDealer connectivity option through TransFICC platform for fixed income electronic trading connectivity.
- OpenFingeneralDealer connectivity option through OpenFin desktop application framework.
- Ion (Ion Trading)generalDealer connectivity option through Ion Trading platform.
- BroadwaygeneralDealer connectivity option through Broadway trading platform.
Scale indicators10 records
Recent moves11 records
Expansion highlights5 records
Bonds.com competitors and assessment
Company assessmentDirect peers
- Trumid: Electronic trading platform for corporate bonds using an all-to-all, fully electronified model with swap and portfolio trading functionality. Targets the same institutional credit market as bonds.com with a protocol-based execution approach and direct dealer connectivity.
- Tradeweb: Major electronic marketplace for institutional fixed income, derivatives, and ETFs. Competes head-on with bonds.com in US, European, and EM corporate bond trading via request-for-quote and streaming protocols, and serves the same institutional broker-dealer and asset-manager client base.
- ICE Bonds (Intercontinental Exchange): ICE's fixed income electronic trading business (formerly BondPoint) operating institutional credit trading venues. Directly comparable all-to-all corporate bond venue with deep liquidity partnerships, similar dealer-to-client connectivity focus, and global institutional distribution.
- MarketAxess: Leading institutional electronic trading platform for corporate bonds and other fixed income instruments. Direct competitor to BondsPro ATS, operating an all-to-all model across global credit markets with comparable dealer-to-client and portfolio-trading workflows.
- Fenics (BGC Group / Fenics UST/Credit): Electronification initiative from BGC Group (formerly GFI) offering direct streams and all-to-all trading in Treasuries and credit. Competes with bonds.com in institutional credit electronic execution via proprietary protocols and API-based dealer-to-client connectivity.
- Liquidnet Fixed Income (TMX Group): Institutional fixed income trading platform acquired by TMX Group, offering block trading and electronification across credit. Comparable institutional customer base and dealer-network-driven trading model in corporate bonds.
Emerging players
- BondCliQ: Real-time corporate bond pricing and data feed with a growing marketplace business. Pairs closely with bonds.com as both a data partner (BondCliQ distributes BondsPro data) and an emerging trader in the same US credit electronic trading segment.
Broad incumbents
- CME Group (BrokerTec / EBS): Major exchange operator with BrokerTec running electronic US Treasury and European fixed-income cash trading. While primarily a rates venue, CME's scale, balance sheet, and post-trade integration make it a broader incumbent that overlaps with bonds.com's institutional client base.
- MTS (Euronext): Euronext-owned MTS operates electronic regulated markets for European sovereign and repo trading. Bonds.com itself was an MTS subsidiary (MMI) until 2022, and MTS retains deep European fixed-income infrastructure and relationships that materially shape bonds.com's competitive context.
- Bloomberg Fixed Income Trading (TSOX / FIT): Bloomberg's TSOX and FIT platforms are core dealer-to-client execution venues for institutional fixed income. As bonds.com's largest distribution partner, Bloomberg is both a critical channel and the de facto incumbent benchmark against which bonds.com's institutional offering is measured.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Bonds.com social profiles
Digital presenceBonds.com compliance and trust
Trust signalCompliance2 records
Bonds.com financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bonds.com leadership team
Management profileNumber of profiles
Bonds.com funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bonds.com M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bonds.com
What does Bonds.com do?
Bonds.com operates the BondsPro Alternative Trading System (ATS), an institutional electronic trading platform for corporate bonds that provides live streaming, click-to-trade markets, and access to real-time liquidity and inventory from hundreds of broker-dealers and asset managers. The platform is supplemented by Direct Connectivity (a widely-used bond API and dealer-to-client infrastructure) and BondsPro Data (executable institutional bond pricing data across 20,000+ securities). It serves broker-dealers, asset managers, and liquidity providers with 22-hour daily trading access.
Is Bonds.com a public or private company?
Bonds.com is a private company. It is classified as corporate owned and is currently operating.
When was Bonds.com founded?
Bonds.com was founded in 2007. It employs 11 to 50 people.
Where is Bonds.com based?
Bonds.com is headquartered in Hull, United States, in the North America region.
How does Bonds.com make money?
Three revenue lines are on record. Transaction/Trading Fees are the primary driver. The others are market Data Licensing and connectivity Services.
Who are Bonds.com's main competitors?
Direct peers on record are Trumid, Tradeweb, ICE Bonds (Intercontinental Exchange), MarketAxess, Fenics (BGC Group / Fenics UST/Credit) and Liquidnet Fixed Income (TMX Group). BondCliQ is listed as an emerging player. Broad incumbents are CME Group (BrokerTec / EBS), MTS (Euronext) and Bloomberg Fixed Income Trading (TSOX / FIT).
Does Bonds.com have an API?
Yes. Bonds.com offers a FIX 4.4 API for dealer connectivity, enabling price streaming, axes distribution, and post-trade STP. The platform processes over 100 million data points per day from close to 100 streaming liquidity providers. API capabilities include point-to-point connectivity for price streaming, axes, and execution, with FIX 4.4 as the primary protocol for dealer connectivity. The platform also supports single and multi-trade STP (Straight-Through Processing).
What industry is Bonds.com in?
Bonds.com's product category is Institutional Fixed Income Trading Platform. Its primary akta.pro industry code is FSAFACAB, Corporate Bond Trading Platforms, with a secondary code of FSAFAEAC, Multi-Asset Alternative Trading Systems (ATS) / Multilateral Trading Facilities (MTF). Its NAICS code is 5231 and its SIC code is 6211.