London-based corporate bond trading platform, LedgerEdge, has entered administration just three years after its inception. The company launched as a multilateral trading facility (MTF) in the UK last year, with approvals from both the UK’s Financial Conduct Authority (FCA) and US regulatory bodies.
LedgerEdge aimed to modernise the corporate bond market by combining artificial intelligence and distributed ledger technology to offer better connectivity, new liquidity opportunities and complete data control. However, the firm cited an “extremely challenging funding environment” as the main reason for the closure.
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