About FIOB

Our Objective

The objective of FIOB is to allow interested investors to match bargains with each other in illiquid bonds where there is either a very wide or no market price.

About us

FIOB evolved out a project led by Mark Taber (who runs the fixed income information website www.fixedincomeinvestments.org.uk) to find a solution to the problem, for retail investors, of the wide market spreads quoted on many fixed income securities. The project has harnessed the power of the online fixed income community both through bringing together the expertise necessary to make it happen and getting in touch with and getting the views of hundreds of fixed income investors who would benefit from it.

The FIOB website is operated by City and Continental LLP (C&C). C&C is an FSA regulated broker specialising in bonds and other debt instruments. C&C have been especially active dealing in illiquid bonds with a particular bias to those in the financial sector. Please see the link to our main website: www.contisec.com

How this website works

The content of this website is controlled and updated by City and Continental LLP (C&C). Bond offers and bids will be added to the website when either a) a client of C&C gives an order to place an offer or bid on the screen or b) another broker with whom C&C have a dealing relationship gives us an order.

To deal on this website you will either a) have to be or become a client of C&C or have an account with an approved broker. For more information see How to Deal

C&C can settle through Crest, Euroclear (Clearstream) and DTC – as well as some other exchanges.

Costs of dealing on this site and minimum size

1% (2% for orders under £10,000 nominal) of the nominal value will added (or subtracted) to the price asked / bid by the offeror / bidder but no commission will be added. This margin is already included in the prices shown in the order book.

Minimum dealing size is the greater of £5,000 nominal or the minimum denomination for a particular security (or currency equivalent).

The standard for most Exchanges is that anyone who posts an offer or bid must undertake to allow partial completion of their order. As this is not an Exchange that rule does not apply with this website. A seller or buyer may specify a minimum amount they will transact in.

Appropriate securities for this website

C&C will control the list for which orders may be displayed on this website. However, we are always open to suggestions.

City and Continental postings

C&C invests for itself in illiquid bonds of the type that are posted on this site and therefore may post offerings and bids for its own account on this website. Members of staff at C&C also have holdings in such bonds and may post as well.