LONDON, Feb. 27, 2019 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq:MKTX), the operator of a leading global electronic trading platform for fixed-income securities and provider of market data and post-trade services, announced today that its group entities have received approval from the Dutch regulator, the AFM, to operate a Multilateral Trading Facility (MTF) and act as a Data Reporting Service Provider (DRSP) in the Netherlands.
The services to EU clients will be provided by new subsidiaries located in Amsterdam: MarketAxess NL B.V. for the MTF; and Trax NL B.V. for the post-trade data reporting, acting as a provider of both Approved Publication Arrangement (APA) and Approved Reporting Mechanism (ARM) services. Importantly, the MTF approval includes permissions for MarketAxess to provide its unique Open Trading™ all-to-all execution service to clients in the EU, giving those clients ready access to an existing broad pool of cross-border liquidity.
The AFM’s approval, alongside MarketAxess’s existing FCA regulatory permissions to provide MTF and DRSP services to UK customers, ensures that MarketAxess is able to provide UK and EU clients with uninterrupted service and access to liquidity post-Brexit. MarketAxess expects the same range of dealers and liquidity will be available on the EU MTF when compared to the UK MTF. This level of continuous service will ensure that MarketAxess clients can confidently comply with their regulatory obligations, even if divergent transparency and transaction reporting regimes are introduced following Brexit.
“We’re always looking ahead to anticipate future client needs. That means not just developing award-winning trade execution and reporting technologies, but also knowing how to deliver those technologies to clients in any regulatory environment,” says Christophe Roupie, Head of Europe and Asia for MarketAxess and Trax. “Recognising the potential impact of Brexit on European financial markets, we were one of the first movers in establishing an office in the Netherlands. Receiving approval from the AFM further demonstrates our commitment to ensuring that our clients receive the same level of service and access to liquidity post-Brexit.”
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 1,500 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, municipal bonds, credit default swaps and other fixed-income securities. 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® division, MarketAxess also offers a range of pre- and post-trade services, including trade matching, regulatory reporting and market and reference data, across a range of fixed-income products. Trax is the trading name of Xtrakter Limited and Trax NL B.V., both MarketAxess group companies.
MarketAxess maintains its headquarters in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, Salt Lake City, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.
Media Relations Contacts:
MarketAxess Holdings Inc.
+44 (0)20 7709 3270
+44 (0)20 7426 9417
Source: MarketAxess Holdings, Inc.