New figures have shown a dramatic growth in bond trading automation, with electronic processing of fixed income trade volumes up 21 percent in a year, according to a report detailed in the .
The figures by trade processing firm Omego show there was also an 85 percent jump in electronic processing in US wholesale funding markets, while there was a moderate growth in Europe where there is the highest level of automation.
The change is prompted by cost, as well as meeting transparency rules such as Dodd-Frank in the US, experts said. Banks are increasingly tasking automated systems with ensuring better back office control and more transparent accounting of funds.