MarketAxess gains Goldman Sachs as US corp bond market maker
21 October 2020 New York
Image: Aris_Suwanmalee/adobe.stock.com
Goldman Sachs is set to become a dedicated market maker and actively stream prices for US investment-grade corporate bonds to the MarketAxess Live Markets order book for institutional credit markets.
Leveraging the anonymous all-to-all Open Trading marketplace, Live Markets provides a single view of two-way, actionable prices for the most active US investment-grade bonds, including recently-issued debt, benchmark issues and news-driven securities.
Launched early this year, Live Markets aims to give institutional credit investors and dealers the ability to place resting live orders in the market and engage firm prices provided by dealers and investors with a single click.
Amy Hong, head of market structure for the global markets division at Goldman Sachs, says: “By connecting our systematic liquidity to the Live Markets order book, we aim to evolve liquid corporate bond markets toward greater pre-trade price transparency and execution certainty.”
Volume conducted via Open Trading grew to $643 billion in the first three quarters of the year, up 60 percent from the same period the prior year, and represents 32 percent of MarketAxess’ total global credit trading volumes.
The enhanced global liquidity offered through Open Trading drove estimated transaction cost savings of $852 million for both liquidity takers and liquidity providers in the first three quarters of 2020.
Leveraging the anonymous all-to-all Open Trading marketplace, Live Markets provides a single view of two-way, actionable prices for the most active US investment-grade bonds, including recently-issued debt, benchmark issues and news-driven securities.
Launched early this year, Live Markets aims to give institutional credit investors and dealers the ability to place resting live orders in the market and engage firm prices provided by dealers and investors with a single click.
Amy Hong, head of market structure for the global markets division at Goldman Sachs, says: “By connecting our systematic liquidity to the Live Markets order book, we aim to evolve liquid corporate bond markets toward greater pre-trade price transparency and execution certainty.”
Volume conducted via Open Trading grew to $643 billion in the first three quarters of the year, up 60 percent from the same period the prior year, and represents 32 percent of MarketAxess’ total global credit trading volumes.
The enhanced global liquidity offered through Open Trading drove estimated transaction cost savings of $852 million for both liquidity takers and liquidity providers in the first three quarters of 2020.
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