MarketAxess Launches Axess All(TM) - Industry's First Intra-Day Trade Tape for the European Fixed Income Markets
LONDON, Feb. 25, 2015 (GLOBE NEWSWIRE) -- 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, announces the launch of Axess All™, the first intra-day trade tape for European fixed income markets, providing aggregated volume and pricing for the most actively traded fixed income instruments in Europe.
Bond information within Axess All includes last trade, daily high and low trade prices, aggregate trade volume, and volume weighted average prices (VWAP). Trade data in Axess All consists of all major European bond sectors including government bonds, corporate bonds, emerging market debt and covered bonds. The data is provided by MarketAxess subsidiary, Trax®, a leading regulatory reporting, post-trade matching and financial market data provider, with a one hour delay.
Axess All was developed in collaboration with some of the most active fixed income market participants in Europe, in response to investor and dealer demand for greater insight into the activity of the European bond markets. It is available and distributed on the MarketAxess BondTicker™ platform, a leading web-based data source for global fixed income market data. MarketAxess participants can also view Axess All via the MarketAxess trading platform. Axess All includes intuitive search and sorting functionality to help users source market information on specific bonds.
Rick McVey, Chairman and CEO, MarketAxess, said: "We believe that more open and transparent European fixed income markets will increase market participation and liquidity. Axess All represents a logical step, ahead of MiFID II/MiFIR transparency requirements for fixed income instruments, to provide a trade tape in the most actively traded European bonds that will help dealer and investor clients manage market risk. Axess All also represents a valuable new data source to assist investors with Transaction Cost Analysis."
Kevin Swann, Head of Data, Trax, added: "The data set within Axess All is sourced from over 40,000 bond transactions processed daily by Trax through its post trade services offering, making it possibly the most robust set of European fixed income trade data available today. On a typical day, Axess All displays data for approximately 400 credit securities representing, on average, about 40% of the corporate bond volumes processed by Trax. By aggregating data, including size and price, and by including only the most actively traded bonds, we believe that Axess All delivers a considered level of transparency that will help boost liquidity in the markets by providing valuable and unique market insights."
MarketAxess operates a leading electronic trading platform that enables fixed-income market participants to efficiently trade corporate bonds and other types of fixed-income instruments using MarketAxess' patented trading technology. Over 1,000 institutional investor and broker-dealer firms are active users of the MarketAxess trading platform, accessing global liquidity in U.S. high-grade corporate bonds, emerging markets and high-yield bonds, European bonds, U.S. agency bonds, credit default swaps and other fixed-income securities. MarketAxess SEF Corporation has received temporary registration from the U.S. Commodity Futures Trading Commission to operate a swap execution facility. 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. Through its Trax® subsidiary, MarketAxess also offers a range of pre- and post-trade services, including trade matching, regulatory transaction reporting and market and reference data, across a range of fixed-income products.
MarketAxess maintains its headquarters in New York and has offices in London, Boston, Chicago, Los Angeles, Salt Lake City, São Paulo and Singapore. For more information, please visit www.marketaxess.com.
Trax is a leading provider of capital market data, trade matching and regulatory reporting services to the global securities market. In 2014 Trax processed 1.1 billion of transactions on behalf of its user community. Trax provides capital market firms with information to assist them in conducting net asset valuations, mark-to-market calculations, fixed-income portfolio mapping, liquidity and volume modelling, as well as reference data population updates. It also provides a wide range of pricing data for approximately 74,000 unique bonds, volume data on over 53,000 individual bonds as well as securities reference data for over 310,000 government bonds, corporate bonds, medium-term notes and private derivative issues.
Trax is based in London and was originally established in 1985. Acquired by MarketAxess in 2013, Trax is a trading name of Xtrakter Ltd. and is a wholly owned subsidiary of MarketAxess Holdings, Inc. For more information, please visit www.traxmarkets.com.
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