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| Additional information |
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| MarketAxess Holdings Inc. |
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Overview:
MarketAxess brings over 14 years of unparalleled trading, market data and technology innovation to the global institutional credit markets.
Electronic Credit Trading
MarketAxess was formed in April of 2000 in response to investors' need for a single trading platform with easy access to multi-dealer competitive pricing in a wide range of credit products. MarketAxess has since expanded and deepened its trading network with North America's premier institutional investors, which include investment advisers, mutual funds, insurance companies, public and private pension funds, bank portfolios and hedge funds, and leading broker-dealers, both primary dealers and regional firms. MarketAxess offers dealers significant presence in secondary markets, providing a broad base of credit securities and deep pool of liquidity for our institutional investor clients.
The U.S. trading system supports fully-disclosed electronic trading in high-grade corporate bonds, high yield/crossover bonds, emerging markets bonds, U.S. agency securities, structured products, preferred stock and credit default swaps (CDS).
MarketAxess Europe Limited, the wholly-owned U.K. subsidiary of MarketAxess Holdings Inc., operates in London and first launched European secondary trading in U.S. dollar and Euro-denominated Eurobonds in 2001. Since then, the platform has added trading in other European credit products including bonds issued in Pounds, Sterling, and floating rate notes (FRNs) and has since successfully expanded into sovereigns, supras, agency and covered bonds. MarketAxess Europe Limited was the first platform in Europe to offer this capability for corporate bonds. As of 2006, European institutional clients can access U.S. credit liquidity, provided they have established trading relationships with U.S. dealers.
In 2010, MarketAxess expanded its credit trading platform to include institutional investors in the Asia Pacific region. Central banks, sovereign wealth funds, pension funds and asset and wealth managers are able to trade U.S. and European corporate bonds, Asian credits, emerging markets bonds and CDS with MarketAxess' global network of broker dealers. MarketAxess is a Recognized Market Operator in Singapore and an Authorized Automated Trading Service in Hong Kong.
MarketAxess continues to expand its reach into the Americas. In 2012, MarketAxess received regulatory approval to trade local currency debt in Brazil. Institutional investors have seamless access to both global and Brazilian fixed income liquidity through the MarketAxess electronic trading platform. MarketAxess also received approval to operate its electronic trading platform in Quebec, Canada, having operated in Ontario since 2008. Institutional investors in Ontario and Quebec can trade U.S. and European fixed income and derivatives products on MarketAxess.
Regulatory pressures and increased capital requirements are driving various shifts in the credit and derivatives markets. In 2012, MarketAxess introduced Open Trading as a flexible, comprehensive solution for institutional investors and dealers to source liquidity in today's complex markets. Open Trading offers anonymous all-to-all trading as well as MarketAxess' established disclosed request-for-quote trading technology. In April 2013, BlackRock and MarketAxess formed a strategic alliance to create a unified electronic trading solution as part of the Open Trading initiative.
MarketAxess maintains its headquarters in New York and has offices in London, Boston, Chicago, Los Angeles, Salt Lake City, Sao Pãulo and Singapore.
Market Data
MarketAxess BondTicker™ provides market participants with real-time FINRA TRACE data enhanced with MarketAxess trade data and analytical tools, in addition to CDS data from the DTCC Swap Data Depository (SDR). Corporate BondTicker is offered as a web-based service and is also integrated directly into the trading system. The source for corporate bond information for the Wall Street Journal beginning in September 2005, Corporate BondTicker has since added compliance monitoring tools and CDS analytics. In 2008, MarketAxess launched European BondTicker, which displays market standard pricing data with MarketAxess enrichments, as well as unique end-of-day pricing data from Trax.
MarketAxess also provides market data as a feed that can be published externally to third-party subscribers or integrated directly into internal systems via MarketAxess Technologies.
Technologies
In order to leverage its trading technology expertise and offer cutting-edge technology solutions for clients, MarketAxess formed a wholly-owned affiliate, MarketAxess Technologies Inc., in November 2007. MarketAxess Technologies acquired Trade West Systems, LLC, a Salt Lake City-based financial software and technology services provider of gateway adapters for connecting order management systems and trading systems to fixed-income trading venues. The combined expertise and assets allow MarketAxess to provide clients with technology solutions that enhance electronic trading capabilities and trading counterparty connectivity. |
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History:
MarketAxess was founded in 2000 with a simple mission: to give investors a single trading platform with easy access to multi-dealer competitive pricing in a wide range of credit products. More than a decade later, we are the leading electronic credit trading platform for corporate bonds and CDS. Innovation is at the heart of what we do at MarketAxess, and the best is yet to come. |
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