One of Wall Street’s quintessential images is fading in the coronavirus era, as electronic dealing sweeps away scenes of brash bond traders barking orders.

As volatility surged last year, so did the percentage of corporate bond trades executed electronically. While consumers switched to online shopping and office meetings moved to Zoom, stuck-at-home traders turned to electronic platforms as a way to continue buying and selling bonds in pandemic-shaken markets. 

By December, one in every three transactions was taking place on an electronic platform, according to data from Greenwich Associates. This momentum continued last month, with volumes of digital trading in investment-grade and high-yield bonds rising 3 per cent and 7 per cent year-on-year, respectively. Analysts and traders expect this shift to continue.