MarketAxess Receives Approval From Dutch Regulator to Provide Trading Platform and Regulatory Reporting Services in the Euro...
February 27 2019 - 03:00AM
MarketAxess Holdings Inc. (Nasdaq:MKTX), the operator of a leading
global electronic trading platform for fixed-income securities and
provider of market data and post-trade services, announced today
that its group entities have received approval from the Dutch
regulator, the AFM, to operate a Multilateral Trading Facility
(MTF) and act as a Data Reporting Service Provider (DRSP) in the
Netherlands.
The services to EU clients will be provided by
new subsidiaries located in Amsterdam: MarketAxess NL B.V. for the
MTF; and Trax NL B.V. for the post-trade data reporting, acting as
a provider of both Approved Publication Arrangement (APA) and
Approved Reporting Mechanism (ARM) services. Importantly, the MTF
approval includes permissions for MarketAxess to provide its unique
Open Trading™ all-to-all execution service to clients in the EU,
giving those clients ready access to an existing broad pool of
cross-border liquidity.
The AFM’s approval, alongside MarketAxess’s
existing FCA regulatory permissions to provide MTF and DRSP
services to UK customers, ensures that MarketAxess is able to
provide UK and EU clients with uninterrupted service and access to
liquidity post-Brexit. MarketAxess expects the same range of
dealers and liquidity will be available on the EU MTF when compared
to the UK MTF. This level of continuous service will ensure that
MarketAxess clients can confidently comply with their regulatory
obligations, even if divergent transparency and transaction
reporting regimes are introduced following Brexit.
“We’re always looking ahead to anticipate future
client needs. That means not just developing award-winning trade
execution and reporting technologies, but also knowing how to
deliver those technologies to clients in any regulatory
environment,” says Christophe Roupie, Head of Europe and Asia for
MarketAxess and Trax. “Recognising the potential impact of Brexit
on European financial markets, we were one of the first movers in
establishing an office in the Netherlands. Receiving approval from
the AFM further demonstrates our commitment to ensuring that our
clients receive the same level of service and access to liquidity
post-Brexit.”
About MarketAxess
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
1,500 institutional investor and broker-dealer firms are active
users of the MarketAxess trading platform, accessing global
liquidity in U.S. high-grade corporate bonds, emerging markets and
high-yield bonds, European bonds, U.S. agency bonds, municipal
bonds, credit default swaps and other fixed-income securities.
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. Through its Trax® division, MarketAxess also offers a
range of pre- and post-trade services, including trade matching,
regulatory reporting and market and reference data, across a range
of fixed-income products. Trax is the trading name of Xtrakter
Limited and Trax NL B.V., both MarketAxess group companies.
MarketAxess maintains its headquarters in New
York and has offices in London, Amsterdam, Boston, Chicago, Los
Angeles, Miami, Salt Lake City, San Francisco, São Paulo, Hong Kong
and Singapore. For more information, please visit
www.marketaxess.com.
Media Relations
Contacts:MarketAxess Holdings Inc.Toby West+44 (0)20 7709
3270 TWest@marketaxess.com
Cognito:Paul Bowhay+44 (0)20 7426
9417Paul.Bowhay@cognitomedia.com
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