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 the development of a Portfolio Trading solution.
In response to the recent growth in portfolio trading across the fixed income market and the growth of Fixed Income ETFs,MarketAxessplans to launch an innovative Portfolio Trading solution for its over 1,500 global institutional investor and dealer firms. MarketAxess Portfolio Trading solution will streamline the trading experience by allowing participants to:
- Trade on both price and spread for hundreds of different bonds with flexible negotiation options;
- Submit inquiries to leading liquidity providers for improved competitive pricing;
- Connect directly to OMS providers; and
- Access award-winning market data and pricing analytics to optimize portfolio pricing and execution quality.
Chris Concannon, President and Chief Operating Officer, commented, Improving trading efficiency and the certainty of execution for clients is our top priority. Our Portfolio Trading protocol will help address both priorities by creating a streamlined solution for institutional investors to market and transact large, customized, fixed income portfolios that ultimately demonstrates best execution with competitive pricing and industry-leading analytics.
The new Portfolio Trading solution integrates MarketAxess proprietary A.I.-powered algorithmic pricing engine, Composite+ (CP+), throughout the trading workflow. CP+ leverages a universe of over 24,000 bonds from the public FINRA Trade Reporting and Compliance Engine (TRACE) and proprietary data from theMarketAxesstrading platform and Trax. This unique mix of transacted data from multiple sources improves pricing accuracy for complex portfolios, even with more illiquid instruments.
Portfolio Trading will initially be available for price and spread disclosed-trading and will expand into MarketAxess anonymous all-to-all Open Trading protocols, bringing further global liquidity options. Portfolio Trading is expected to launch in the Autumn of 2019.