News Details

MarketAxess is Approved to Trade Local Currency Debt in BrazilNEW YORK & LONDON--(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 trading platform. 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.

About 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.

US:
MarketAxess
Diana Bhaktul, +1-212-813-6354
dbhaktul@marketaxess.com
or
William McBride & Associates
Judith Flynn, +1-917-902-9726
jflynn@wmmcbride.com
or
UK:
MHPC
Charlie Prichard, +44 (20) 3128 8554
marketaxess@mhpc.com