Norway Wealth Fund Building Liquidity Tool to Rank Bond Dealers
Norway's $1.8 trillion sovereign wealth fund is building tools to rank its bond dealers as it seeks out the best liquidity across global fixed-income markets.
Norges Bank Investment Management is working on proprietary models that would identify which bank or other market maker is likely to offer it the best pricing on a given transaction, said Pauli Mortensen, the fund's global co-head of fixed-income trading. His team is looking at data from historic trades with its counterparties to examine the market impact of those transactions, he said.
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