Banque De Luxembourg Integrates Marketaxess’ Axess IQ Order & Execution Workflow Solution

Rhea-AI Summary

MarketAxess Holdings (Nasdaq: MKTX) announced the launch of Axess IQ, an enhanced order and execution workflow solution at Banque de Luxembourg. This integration features MarketAxess’ Auto-X™ automated trading technology and the Composite+™ pricing engine, improving execution efficiency. Notably, automated trading volumes surged to over $32 billion, marking a 66% increase year-over-year. The Open Trading™ marketplace facilitated an average of 32,000 orders daily, totaling over $18 billion in notional value, showcasing enhanced liquidity for private banks.

Positive

• Automated trading volumes exceeded $32 billion, up 66% year-over-year.
• Integration of Auto-X™ improves trading capabilities and efficiency.
• Access to a global network of over 1,700 investor and dealer firms enhances liquidity.

Negative

• None.

Axess IQ enhanced with MarketAxess’ automated trading capabilities

NEW YORK and LONDON, Sept. 28, 2020 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, announced today that Banque de Luxembourg, a leading private banking and wealth management group, has gone live with Axess IQ, its order and execution workflow solution.

Following the successful pilot launch of Axess IQ in November 2019, further enhancements have been made to its trading capabilities by integrating MarketAxess’ Auto-X™ automated trading solution into the Axess IQ workflow. In the second quarter of 2020, automated trading volumes on MarketAxess rose to over $32 billion, up 66% from the year prior. The efficient, low-touch automated execution tools offered by MarketAxess allows firms to quickly complete orders, supported with the confidence of industry-leading market data from the AI-powered Composite+™ pricing engine. Connecting sophisticated trading technology and market data in one central hub ultimately improves trading outcomes and supports a more seamless order management workflow.

Pierre Stoll, Head of Fixed Income and Structured Products with Banque de Luxembourg, commented, “Today’s market requires cutting-edge technology, access to the broadest possible network of liquidity and integrating high-quality market data directly into our workflow. We believe we are able to offer our clients a superior service through this combination and feel Axess IQ can help us exceed client expectations.”

In addition to the inclusion of Auto-X and Composite+ within Axess IQ, clients benefit from access to a global network of over 1,700 active institutional investor and dealer firms via the all-to-all Open Trading™ marketplace. By connecting a vast, global trading community, Open Trading creates a better execution experience through a diverse pool of additional liquidity for private banks. On average, Open Trading had 32,000 orders and over $18 billion in notional value available per day for trading in the second quarter of 2020.

Erik Tham, Head of Private Banking, Benelux and Switzerland, for MarketAxess, added, “Our tailor-made workflow solutions are driving greater efficiency and improved workflow processes. Enhancements to Axess IQ, including the connectivity to Auto-X that now supports fully-automated execution, demonstrates our commitment to building best-in-class technology that gives our clients an edge. We’re thrilled to be working with Banque de Luxembourg and other leading private bank and wealth management firms to enable them with the tools to perform at their peak.”

About MarketAxess
MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets. A global network of over 1,700 firms, including the world’s leading asset managers and institutional broker-dealers, leverages MarketAxess’ patented trading technology to efficiently trade bonds. MarketAxess’ award-winning Open Trading™ marketplace is regarded as the preferred all-to-all trading solution in the global credit markets, creating a unique liquidity pool for a broad range of credit market participants. Drawing on its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services.

MarketAxess is headquartered in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.

About Banque de Luxembourg
Banque de Luxembourg has been active in private banking since 1920 and is one of the Grand Duchy's leading asset managers. It serves enterprising individuals and families by accompanying them at the most important stages of their lives and offering them long-term wealth management solutions so that they can carry out their plans with complete confidence. With EUR 1 billion of equity capital on 31 December 2019, Banque de Luxembourg manages EUR 76.5 billion, employs 1000 people and returned profits of EUR 63.5 million.

For more information: www.banquedeluxembourg.com
MarketAxess Media Relations Contacts:
New York:	London:
Kyle White	Toby West
+1 212 813 6355	+44 (0)20 7709 3270
kwhite@marketaxess.com	twest@marketaxess.com
Banque de Luxembourg Media Relations Contact:
Isabelle Mandelli
14, boulevard Royal, L-2449 Luxembourg
+352 49924 4103
isabelle.mandelli@bdl.lu

 

FAQ

What is Axess IQ and its significance for MarketAxess (MKTX)?

Axess IQ is an enhanced order and execution workflow solution launched by MarketAxess, integrating advanced automated trading technologies to improve trading efficiency.

How much did automated trading volumes increase for MarketAxess (MKTX) in 2020?

In the second quarter of 2020, automated trading volumes on MarketAxess rose to over $32 billion, which is a 66% increase compared to the previous year.

What benefits does the Open Trading™ marketplace provide to MarketAxess (MKTX) clients?

The Open Trading™ marketplace offers clients access to a vast global trading community, improving execution experience through increased liquidity, with an average of 32,000 orders and over $18 billion in notional value available daily.