Charles River and MarketAxess Expand Collaboration for Trading Connectivity Across Global Credit Markets
July 23 2019 - 9:00AM
Business Wire
Charles River Development, a State Street Company, today
announced an expansion of its collaboration with MarketAxess, a
leader in e-trading for global fixed income. Under the expansion,
global Charles River clients will be offered access to MarketAxess’
Auto-X™ and other new trading features for investment-grade credit,
high-yield, emerging market debt and Eurobonds. As a result,
traders and portfolio managers will be able to source liquidity
directly from the Charles River Order and Execution Management
System (OEMS) for fixed income securities in more than 25
currencies across Europe, Africa, Latin America and
Asia-Pacific.
Charles River’s global trading ecosystem provides clients with
broad access to liquidity, execution protocols and geographic
coverage. The collaboration further integrates MarketAxess’ Auto-X
trading functionality, allowing traders to set rules-based
parameters to automate their trading workflow. Integrating Auto-X
with the Charles River OEMS enables clients to seamlessly
auto-execute orders, deliver trade allocations to dealer
counterparties and receive allocation acknowledgements in an STP
workflow.
“For years, our longstanding collaboration with MarketAxess has
remained successful because of the firm’s proven ability to improve
transparency, efficiency, and competition in global credit
markets,” said John Plansky, CEO Charles River. “Expanding that
relationship provides Charles River clients with a greater choice
of trading protocols to easily access liquidity for the debt
securities and geographies they trade in.”
“We are looking forward to the next phase of our collaboration
with Charles River,” said Chris Concannon, President & COO,
MarketAxess. “Improving trading efficiency through more automated
trading protocols is in high-demand from our clients. The
collaboration is timely as it will deliver a more seamless
front-to-back trading experience through Auto-X with clear and
quantifiable benefits to market participants, including reduced
information leakage and lower transaction costs.”
About Charles River, a State Street Company Charles River
enables sound and efficient investing across all asset classes.
Investment firms in more than 30 countries use Charles River IMS to
manage more than US$25 Trillion in assets as of April 2019 in the
institutional investment, wealth management and hedge fund
industries. Our Software as a Service-based solution (SaaS) is
designed to automate and simplify investment management on a single
platform – from portfolio management and risk analytics through
trading and post-trade settlement, with integrated compliance and
managed data throughout. Headquartered in Burlington,
Massachusetts, we support clients globally with more than 925
employees in 11 regional offices. For more information, please
visit www.crd.com.
*As of April 2019
About State Street Corporation State Street Corporation
(NYSE: STT) is one of the world's leading providers of financial
services to institutional investors, including investment
servicing, investment management and investment research and
trading. With $32,754 billion in assets under custody and
administration and $2,918 billion* in assets under management as of
June 30, 2019, State Street operates globally in more than 100
geographic markets and employs approximately 40,000 worldwide. For
more information, visit State Street's website at
www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold
ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $36
billion as of June 30, 2019), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
© 2019 State Street Corporation - All Rights Reserved
About MarketAxess MarketAxess operates a leading,
institutional electronic trading platform delivering expanded
liquidity opportunities, improved execution quality and significant
cost savings across global fixed-income markets. More than 1,500
firms - comprising the world’s leading asset managers and
institutional broker-dealers - traded a record $1.7 trillion of
U.S. investment-grade bonds, U.S. high yield bonds, emerging market
debt, Eurobonds and other fixed income securities through
MarketAxess’ patented trading technology in 2018. MarketAxess’
award-winning Open Trading™ marketplace is regarded as the
preferred all-to-all trading solution in the global credit markets,
creating a unique liquidity pool for the broad range of credit
market participants. Drawing on its deep data and analytical
resources, MarketAxess enables automated trading solutions and,
through its Trax® division, provides a range of pre- and post-trade
services and products.
MarketAxess is headquartered 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190723005199/en/
Mary Masi-Phelps, Charles River Development, +1 781-425-6155,
marymasiphelps@crd.com
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