London – MTS SpA’s supervisory board has decided not to allow hedge funds immediate access to its interdealer government-bond platform, but instead has instructed its management board to ‘formulate practical proposals’ after consultation today with its third-party access committee and other interested parties.
These proposals will be submitted to the firm’s next supervisory board meeting.
MTS said in a statement: ‘Although the supervisory board generally supports the view that it is desirable to liberalize the access of the market to third parties as a way to enhance the liquidity, it concluded that further work is needed to address some of the concerns arising from this opening, as well as to promote a consensual implementation.’
Speaking earlier to Thomson Investment Management News, the committee’s chairman Benn Steil had said he did not expect the supervisory board to make an immediate decision following the meeting.
