The operator of an electronic trading platform for U.S. and European high-grade corporate bonds, emerging markets bonds and other fixed income securities, MarketAxess Holdings has announced that RBS is the first dealer to provide streaming, executable markets to MarketAxess for CDS indices.
RBS is providing markets for U.S. high grade and high yield indices (CDX), as well as European indices (iTraxx). Using the MarketAxess streaming markets protocol, investors are able to initiate trades with a single click.
MarketAxess will provide a broad suite of straight-through-processing (STP) functionality for CDS trades taking place on the platform, including connectivity to the available central clearing counterparties for CDS.
We are working with our dealer and investor clients to support their electronic CDS trading requirements on a global basis, says Kelley Millet, President of MarketAxess. As the first firm to provide streaming, executable quotes on the MarketAxess platform RBS is helping to promote the implementation of electronic CDS trading today, and we expect to add further dealers to the streaming markets platform for CDS indices in the near future. MarketAxess expects to qualify as a swap execution facility (SEF) and as such we are offering a full suite of trading protocols and post-trade connectivity to support and accelerate electronic trading in the CDS market.
Over 800 institutional investors are active users of the MarketAxess trading platform, accessing the global liquidity provided by MarketAxess’ 81 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.
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