BondCliQ Inc., a NYC-based creator and operator of a consolidated quote system for the corporate bond market, held the initial close of its Series A funding.
The round was led by London Stock Exchange Group (LSEG) and key buy-side and financial technology participants Aflac Ventures and SEI. Additionally, investment management firm Vanguard has engaged as a strategic partner with BondCliQ to support these improvements to corporate bond market structure. Alongside the investment, LSEG and BondCliQ have signed heads of terms to collaborate on new product opportunities, including making proprietary data available through LSEG, to improve pre-trade pricing for corporate bonds.
Funds from the investment will be used for general corporate purposes, to further build out the team and to help the company expand into additional corporate bond markets, such as Europe.
Led by CEO Chris White, BondCliQ is the creator and operator of a consolidated quote system for the corporate bond market, organizing institutional pre-trade quotes to allow market makers to become more active liquidity providers for buy-side clients.