MarketAxess Launches Open Trading® for Emerging Market Local Currency Bonds

Rhea-AI Summary

MarketAxess enhances its EM trading product with Open Trading for local currency bonds, connecting local dealers with international clients and deepening liquidity pool. EM local currency bonds constituted over 40% of MarketAxess global EM volumes of $360B in H1 2023. Expansion to more local currencies planned for H1 2022.

Clients & Dealers now able to trade PLN, CZK, HUF and ZAR denominated bonds with an all-to-all solution

NEW YORK--(BUSINESS WIRE)-- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced that it has enhanced its award-winning Emerging Markets (EM) trading product with the launch of Open Trading for local currency bonds. The first tranche of local currency markets to be supported are Poland (PLN), Czech Republic (CZK), Hungary (HUF) and South Africa (ZAR).

The launch of Open Trading for EM local currency bonds represents a key addition to MarketAxess’ end-to-end global EM offering. It connects local onshore dealers with a network of international buyside clients, significantly deepening the available liquidity pool. Clients and dealers are able to trade on an all-to-all basis. In the first half of 2023, EM local currency bonds constituted over 40% of MarketAxess global EM volumes of $360B.­

“As a global leader in Emerging Markets debt trading, expanding Open Trading across our 28 local markets is something our clients around the world have been asking us for,” said Christophe Roupie, Head of EMEA and APAC at MarketAxess. “Expanding Open Trading in these four new local markets is only the first step, and we hope to expand the model further to more local currencies in the first half of next year.”

Launched in 2012, MarketAxess’ Open Trading is the leading all-to-all trading environment for corporate bonds. Open Trading drives meaningful and measurable price improvement for clients by creating a global, diversified pool of liquidity where institutional investor clients, dealer clients and alternative liquidity providers can all interact on either on a disclosed or an anonymous basis.

For more information on Open Trading for EM local currency bonds, visit: https://www.marketaxess.com/trade/open-trading

About MarketAxess

MarketAxess (Nasdaq: MKTX) operates a leading electronic trading platform that delivers greater trading efficiency, a diversified pool of liquidity and significant cost savings to institutional investors and broker-dealers across the global fixed-income markets. Over 2,000 firms leverage MarketAxess’ patented technology to efficiently trade fixed-income securities. MarketAxess’ award-winning Open Trading^® marketplace is widely regarded as the preferred all-to-all trading solution in the global credit markets. Founded in 2000, MarketAxess connects a robust network of market participants through an advanced full trading lifecycle solution that includes automated trading solutions, intelligent data and index products and a range of post-trade services. Learn more at www.marketaxess.com and on Twitter @MarketAxess.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231002183462/en/

INVESTOR RELATIONS

Stephen Davidson

MarketAxess Holdings Inc.

+1 212 813 6313

sdavidson2@marketaxess.com

MEDIA RELATIONS

Marisha Mistry

MarketAxess Holdings Inc.

+1 917 267 1232

mmistry@marketaxess.com

Source: MarketAxess Holdings Inc.