MarketAxess is Approved to Trade Local Currency Debt in BrazilNEW YORK
--(BUSINESS WIRE)--Jan. 18, 2012--
MarketAxess Holdings Inc.
(Nasdaq: MKTX), the operator of a leading
electronic trading platform for U.S. and European high‐grade corporate
bonds, emerging markets bonds and other types of fixed‐income
securities, today announced it has received authorization from the
Comissão de Valores Mobiliários – CVM (Securities and Exchange
Commission of Brazil
) and the Central Bank of Brazil
to offer e‐trading
of local currency debt. Brazilian local currency government and
corporate bonds are available on the MarketAxess
Global institutional investor clients can benefit from MarketAxess’
patented RFQ technology to request competitive, executable bids or
offers to multiple broker‐dealers, and execute with the dealer of choice.
“We are very pleased to be able to offer Brazilian local currency debt
trading to our global customers. The current estimated average daily
volume (ADV) in the Brazilian local debt market is approximately $5.1
billion and we believe access into this marketplace represents an
important development for our emerging market (EM) clients, eager to
participate in one of the world’s fastest growing local currency debt
markets. We currently have 10 dealers prepared to provide liquidity in
Brazilian local currency bonds on the platform and expect that number to
grow. We have had strong interest from clients in North America and
Europe in accessing these markets and anticipate continued appetite for
cross‐border trading both locally and globally,” said Kevin McPherson,
Head of Sales, MarketAxess.
“We believe that MarketAxess’ patented RFQ technology is the trading
protocol best suited for OTC trading of less liquid instruments such as
local emerging markets debt. For over 10 years, we have succeeded in
delivering our e‐trading platform for global EM bonds and other fixed
income products, and will continue to expand into new emerging markets,”
said Sandy White, Emerging Markets Product Manager, MarketAxess.
MarketAxess operates a leading electronic trading platform that enables
investment industry professionals to efficiently trade corporate bonds
and other types of fixed‐income instruments. MarketAxess’ patented
trading technology allows institutional investor clients to request
competitive, executable bids or offers from multiple broker‐dealers
simultaneously, and to execute trades with the broker‐dealer of their
choice. Over 850 institutional investors are active users of the
MarketAxess trading platform, accessing the global liquidity provided by
MarketAxess’ 80 broker‐dealer clients in U.S. high‐grade corporate
bonds, European bonds, high yield and emerging markets bonds, agency
bonds, asset‐backed and preferred securities and credit default swaps.
MarketAxess also offers a number of trading‐related products and
services, including: market data to assist clients with trading
decisions; connectivity solutions that facilitate straight‐through
processing; technology services to optimize trading environments; and
execution services for exchange‐traded fund managers and other clients.
MarketAxess maintains its headquarters in New York and has offices in
London, Chicago and Salt Lake City. For more information, please visit www.marketaxess.com.
Source: MarketAxess Holdings Inc.
Diana Bhaktul, +1-212-813-6354
McBride & Associates
Judith Flynn, +1-917-902-9726
Prichard, +44 (20) 3128 8554