A new institutional trading platform for US high-yield bonds is being launched next month ahead of new rules that are expected to increase electronic trading in fixed income markets.

Vega-Chi, which already operates an alternative market for bond trading in Europe, will launch a buyside US high-yield bond electronic trading platform next month, the company said yesterday. The new platform is one of several potential new bond trading venues which hope to capitalise upon a regulatory sea-change that is transforming the over-the-counter markets.