Vega-Chi announces plan for new buy-side corporate bond platform

European bond trading platform Vega-Chi has announced plans to offer trading in high yield corporate bonds and subordinated bank debt from next month. The company, set up in 2009 by former Goldman Sachs convertibles trader Constantinos Antoniades, already operates a buy-side-to-buy-side platform for trading convertible bonds. On 7 February Vega-Chi will launch a new “multilateral trading facility” for European high yield bonds and subordinated financial bonds. According to the company, institutional investors will be able to trade directly with each other on an anonymous basis. By-passing market makers should, it claims, result in better execution.