Bond-Order Platform Highlights Growth Beyond Wall Street’s Grip

Investor Access, a platform for ordering new bonds electronically, said a growing number of banks and investors around the globe is signing up for the service even as its expansion has stalled in the U.S., the world’s largest debt market.

The number of asset managers using the system has more than doubled over the past year to 320 institutions, owner IHS Markit Ltd. said in a statement May 7. Orders placed on the platform grew by almost 400 percent in the first quarter of this year compared to a year earlier, the firm said.

The market for newly-issued bonds still ...