Stats › Valuation › Electronic bond trading
About half of European corporate bond notional now trades on a venue, and nobody publishes the protocol split
| Measure | Figure | Source type | What it counts |
|---|---|---|---|
| On venue dealer to client, notional | 47% to 49% | Built from European transaction reports | Share of notional |
| On venue dealer to client, trade count | 59% to 61% | Same | Share of trades |
| Electronic, investment grade | 62% | Vendor survey of market participants | Self reported electronic execution |
| Electronic, high yield | 49% | Same | Same |
These three measures disagree because they count different things: notional against trades, and regulatory venue classification against a participant's own description of electronic execution. The first source's own report gives both 47 and 49 per cent for 2025 in the same document.
On the measure built from European transaction reports, dealer to client trading on venue was 47 to 49 per cent of notional and 59 to 61 per cent of trades in 2025. No published European source breaks that down by trading protocol.
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