MarketAxess Mid-X launches in US

Dan Barnes

MarketAxess has made Mid-X, its anonymous session-based matching protocol, live for US market participants after its initial launch in Q4 2020 with European participants.

The expansion to US users means that Mid-X now covers US Investment grade, high yield and European bonds for US and European-based traders.

Europe holds daily sessions, while the US holds two sessions a week on Tuesdays and Thursdays.

Mid-X is an all-to-all trading marketplace using the Composite+ (CP+) mid-market price based on periodic anonymous matching sessions, with no size information revealed until the trade summary is published. It uses the Open Trading connection so users face MarketAxess but control the types of firms matched on the other side.

©Markets Media Europe, 2021