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Corporate bond 'revolution' will take time to succeed
The corporate bond 'revolution' introduced by the London Stock Exchange (LSE) this month will be a success in time, an independent financial advisor has predicted.
On February 1st, the LSE launched an electronic order book for retail bonds in response to strong demand from private investors wanting greater access to fixed income.
The system allows continuous two-way pricing for trading in UK gilts and retail-size corporate bonds on-exchange for the first time.
Colin Jackson, director of Baronworth Investment Services, described the concept as "excellent" but warned that it will take time for small investors to become educated about the risks involved.
"At the moment it seems that there is too little choice for the investor and for the very small investor – say £1,000 – the charges are too high," he went on to say.
Mr Jackson added: "What they will have to do is reduce the charges for the small investors to get them into the market in the first place."
Posted by Fiona Beck.
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