Appoints Robert Urtheil Head of Europe and Asia
LONDON--(BUSINESS WIRE)--Mar. 5, 2013--
MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading
electronic trading platform for U.S. and European corporate bonds,
emerging markets bonds and other types of fixed-income securities, has
completed its previously announced acquisition of Xtrakter Limited, a
leading provider of regulatory transaction reporting, financial market
data and trade matching services to the European securities markets.
In addition, MarketAxess has appointed Robert Urtheil as head of its
European and Asian businesses.
Mr. Urtheil joins from Oliver Wyman, a leading global management
consulting firm, where he was a Partner and Global Head of the firm’s
market-leading Market Infrastructure practice. Previously, he spent 10
years at Deutsche Börse Group, most recently as Head of Market
Development and Strategy.
Rick McVey, Chief Executive Officer of MarketAxess, said: "We are
pleased to finalize this acquisition and excited about the opportunities
created by the combination of the two companies. Robert’s appointment
also reinforces our commitment to the continued expansion of our
European and Asian businesses. He has extensive experience in the global
exchange and market structure space, along with a deep understanding of
fixed-income market dynamics. We look forward to working with Robert and
the team at Xtrakter to deliver innovative fixed income trading and data
solutions to the European investor and broker-dealer communities.”
Robert Urtheil added: “Together, MarketAxess and Xtrakter are uniquely
placed to take advantage of the broad-reaching changes taking place in
the fixed income markets. Incoming regulations present new and
significant opportunities across the region. The combination of
extensive market and reference data, a broad suite of protocols for
trade execution and robust post-trade services mean that MarketAxess and
Xtrakter can offer dealers and investors a full suite of valuable tools
to help manage their fixed income trading and investment risk.”
MarketAxess' acquisition of Xtrakter from Euroclear was completed on 28
February, 2013 following approval from the UK Financial Services
Authority. The purchase price is £25.3 million (approximately $38.5
million), net of acquired cash.
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 investor and broker-dealer firms are
active users of the MarketAxess trading platform, accessing global
liquidity 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, Salt Lake City, Hong Kong, Singapore and São Paulo. For
more information, please visit www.marketaxess.com.
Xtrakter is a leading provider of capital market data, trade matching
and regulatory reporting services to the global securities market. In
2012 Xtrakter processed 1.19 billion of transactions on behalf of its
user community. Xtrakter 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
modeling, as well as reference data population updates. It also provides
a wide range of pricing data for approximately 53,000 international
securities and internationally traded government bonds, as well as
securities reference data for over 300,000 government bonds, corporate
bonds, medium-term notes and private derivative issues. Xtrakter is the
operator of TRAX, a leading trade matching and reporting system.
Xtrakter is based in London and was originally established in 1985.
Acquired by MarketAxess in 2013, Xtrakter is a wholly owned subsidiary
of MarketAxess Holdings Inc. For more information, please visit www.xtrakter.com.
Source: MarketAxess Holdings Inc.
Florencia Panizza, +1-212-813-6029
Andrew Nicolls, +44-20-3128-8581