MARKETAXESS EXPANDS GLOBAL ACCESS FOR US TAXABLE MUNICIPAL BONDS TO THE UK, EUROPE AND SINGAPORE
April 01 2020 - 08:00AM
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, today announced that it has expanded access
to US Taxable Municipal Bond liquidity through MarketAxess’
regulated trading venues in the UK, EU and Singapore.
US Taxable Municipal Bond trading on MarketAxess has seen record
adoption during the last year, with full-year 2019 trading volume
of $5.1 billion, up 53% year-over-year. International demand for US
Taxable Municipal Bonds has grown given the need for access to new
investment vehicles with varying yield characteristics and broad
market recognition for their Environmental, Social and Governance
(ESG) qualities. MarketAxess has responded by creating a global
electronic US taxable municipal bond marketplace, connecting
trading participants across geographies via MarketAxess’ regulated
trading venues. The ability to trade over all of MarketAxess’
trading venues will dramatically increase the number of trading
connections and allow traders around the world to engage with US
Taxable Municipal Bond liquidity.
This extension also supports liquidity provision through the
all-to-all Open Trading™ marketplace, allowing any participating
investor or dealer client to either take or make liquidity
anonymously. Unlike the traditional investor-to-dealer trading
model, Open Trading allows for broader connections and expanded
trading opportunities. The vast liquidity connections offered
through Open Trading drove $385 million in transaction cost savings
in 2019.
Stephen Winterstein, Co-Head of Municipal Fixed Income with
MarketAxess, said, “Demand for access to US taxable municipal bond
market liquidity outside of the United States has grown steadily
across the last twelve months, a time in which we have seen
accelerated electronic trading adoption. Now with expanded access
to a global liquidity pool, our global network of institutional
investors and dealers are able to trade taxable municipal bonds on
our platform.”
Andre Severino, Global Head of Fixed Income with Nikko Asset
Management in London, commented, “In our view, investing in US
Taxable Municipal Bonds offers an attractive yield pick-up with
broader portfolio diversification and generally strong credit
credentials. By having efficient global access to liquidity in
these instruments, we can make strategic investment decisions
quickly and deliver best execution for our clients.”
For further information on MarketAxess’ Taxable Municipal Bond
trading capabilities, please visit our website:
https://www.marketaxess.com/trade/municipal-bonds.
About MarketAxessMarketAxess 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, Salt Lake
City, San Francisco, São Paulo, Hong Kong and Singapore. For more
information, please visit www.marketaxess.com.
Media Relations Contacts: |
New York: |
London: |
Kyle White |
Toby West |
MarketAxess Holdings Inc. |
MarketAxess Holdings Inc. |
+1 212 813 6355 |
+44 (0)20 7709 3270 |
kwhite@marketaxess.com |
twest@marketaxess.com |
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