MarketAxess expands client portfolio trading platform
23 June 2021 US
Image: stock.adobe.com/Dmitry
MarketAxess has enhanced its client-facing portfolio trading platform.
The electronic trading platform now includes support for multi-directional lists and multi-currency lists, giving clients a streamlined workflow to execute single, list and portfolio trades according to their preferred strategy.
The enhancements work with existing list request for quote (RFQ) functions and integrated net spotting capabilities are available through MarketAxess’ trading protocols, including portfolio trading.
The provider of market data and post-trade services for the global fixed-income markets says portfolio trading accounts for 3.8 per cent of the US High Grade and US High Yield TRACE volume — a small but growing portion of the US credit market with approximately $1.5 billion in average daily volume.
Since the technology’s release in late May, more than 50 portfolio trades have been completed on MarketAxess with 17 unique investor firms and nine dealers, the firm says.
MarketAxess global head of sales Kevin McPherson says: “We’ve seen a steady but important increase in client adoption of portfolio trading since enhancing our service. Certainty of execution across a broad basket of instruments has become more important to our clients, particularly at the illiquid end of the spectrum.
“We’ve enhanced both our pricing data and our portfolio trading tools to provide a complete set of efficient tools to address clients’ execution objectives.”
The electronic trading platform now includes support for multi-directional lists and multi-currency lists, giving clients a streamlined workflow to execute single, list and portfolio trades according to their preferred strategy.
The enhancements work with existing list request for quote (RFQ) functions and integrated net spotting capabilities are available through MarketAxess’ trading protocols, including portfolio trading.
The provider of market data and post-trade services for the global fixed-income markets says portfolio trading accounts for 3.8 per cent of the US High Grade and US High Yield TRACE volume — a small but growing portion of the US credit market with approximately $1.5 billion in average daily volume.
Since the technology’s release in late May, more than 50 portfolio trades have been completed on MarketAxess with 17 unique investor firms and nine dealers, the firm says.
MarketAxess global head of sales Kevin McPherson says: “We’ve seen a steady but important increase in client adoption of portfolio trading since enhancing our service. Certainty of execution across a broad basket of instruments has become more important to our clients, particularly at the illiquid end of the spectrum.
“We’ve enhanced both our pricing data and our portfolio trading tools to provide a complete set of efficient tools to address clients’ execution objectives.”
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