Flow Traders bullish about threat from big banks

Talking Heads 2023: Non-bank market-maker remains confident of its edge in small-ticket corporate credit

Credit: Risk.net montage/Steppeland/Alamy Stock Photo

This article is the fifth in a five-part series of interviews with people shaping the future of the credit markets. The others are available here.

Ramon Baljé joined Flow Traders back in 2019 fresh from stints as managing director at Nomura and JP Morgan, with a mandate to build out the firm’s secondary market-making activities for corporate bonds.

The Dutch non-bank had built a strong position in fixed income exchange-traded fund (ETF) market-making and bond portfolio trading, which allows it

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