MarketAxess launches centralised marketplace with integrated rates trading

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Electronic bond market operator, MarketAxess, has launched a centralised fixed income trading marketplace integrating rates trading capabilities within the MarketAxess trading system.

MarketAxess acquired government bond trading market operator LiquidityEdge last year. By combining credit and rates trading capabilities into a single workstation, existing MarketAxess investor and dealer clients should see greater flexibility in trading across fixed income instruments and get more efficient access to streaming, click-to-trade liquidity for on- and off-the-run US Treasuries. This can allow thousands of current credit trading users to access the MarketAxess Rates trading solution with post-trade integration. MarketAxess Rates is the former LiquidityEdge brand.

Steve Chylinski, head of fixed income trading with Eagle Asset Management, said, “Actively managing thousands of separately managed accounts demands access to broad liquidity sources and a streamlined operational workflow. By connecting credit and rates trading capabilities into a single workstation, including combining streaming US Treasury and all-to-all credit market liquidity, we can improve the efficiency of our portfolio management process.”

This launch marks the first phase of development planned for integrating the rates product segment within the MarketAxess platform. Further enhancements will include expanding the trading protocols available to customers by exposing request-for-quote (RFQ) enquiries alongside click-to-trade streams, as well as broadening the product scope to include European Government Bonds and inflation protected securities.

Nichola Hunter, head of rates with MarketAxess, added, “Since the acquisition of LiquidityEdge one year ago, we have made swift progress in integrating the businesses and delivering valuable trading solutions to our clients. Our rates trading solution is differentiated by high-quality pricing through bespoke order books and streaming liquidity across the Treasury curve. By combining our innovative rates trading technology with industry-leading credit market liquidity, clients and dealers benefit from a dynamic fixed income trading solution.”

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