NEW YORK, May 3, 2021 /PRNewswire/ -- MarketAxess
Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic
trading platform for fixed-income securities, and the provider of
market data and post-trade services for the global fixed-income
markets, today announced the Diversity Dealer Initiative, a series
of technology enhancements that will enable leading buy-side
institutions and minority-, women- and veteran-owned broker dealers
to more easily trade with one another on the MarketAxess
platform.
The functionality leverages MarketAxess' anonymous all-to-all
Open Trading marketplace and provides enhanced trading connections
by allowing investor clients to select a diversity dealer to
intermediate an Open Trading transaction. The Open Trading network
of institutional participants creates a significant pool of
available liquidity, which delivered over 25,000 credit trading
opportunities per day and over $16
billion in daily notional volume in 2020.
Pilot participants include Loop Capital Markets, R. Seelaus
& Co., BlackRock, Inc. and AllianceBernstein L.P. ("AB").
"Many institutions want to trade with a more diverse set of
counterparties," said Rick McVey,
Chairman and CEO of MarketAxess. "Our Diversity Dealer Initiative
leverages our market leading technology to advance trading
relationships between our network of asset managers and minority-,
women- and veteran-owned broker-dealers. This is a powerful example
of the value that Open Trading technology creates for our clients.
By eliminating barriers to opportunity and building connectivity in
global fixed income trading, we are able to improve liquidity for
all market participants."
Annie Seelaus, Chief Executive
Officer of R. Seelaus & Co., said, "Expanding market access for
women-led organizations is a challenge, one that is only possible
to overcome with thoughtful use of technology. I'm thrilled to be
working with MarketAxess on the Diversity Dealer Initiative,
raising the visibility of our market making capabilities with an
extensive network of participants."
Dan Veiner, Global Head of Fixed
Income Trading with BlackRock, commented "As a fiduciary on behalf
of clients, BlackRock is committed to cultivating and advancing
diversity in all forms across our organization and in the markets
that we serve. Trading initiatives that provide broader access to
opportunities will meaningfully contribute to the growth of
participating diverse broker businesses."
Jim Switzer, Global Head of Fixed
Income Trading and Head of Municipal Bonds with AB, remarked,
"Technology is the catalyst for driving progress in the fixed
income markets and improves the way all participants interact,
connect and trade. It's encouraging to be a part of an
initiative which truly improves access to liquidity and allows us
to meet our investment objectives while also supporting the success
of diversity dealers."
The pilot program began in November
2020 and supports trading in investment grade bonds, high
yield bonds and municipal securities available through the Open
Trading marketplace. Based on significant early interest in the
Diversity Dealer Initiative, additional dealer and institutional
investor firms are currently being on-boarded.
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. A global network of over 1,800 firms,
including the world's leading asset managers and institutional
broker-dealers, leverages MarketAxess' patented trading technology
to efficiently trade bonds. 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 a broad range of credit market participants.
Drawing on its deep data and analytical
resources, MarketAxess provides automated trading
solutions, market data products and a range of pre- and post-trade
services.
MarketAxess is headquartered in New
York and has offices in London, Amsterdam, Boston, Chicago, Los
Angeles, Miami,
San Francisco, São Paulo,
Hong Kong and Singapore. For more information, please visit
www.marketaxess.com.
MarketAxess Media Relations Contacts:
Mary Sedarat
MarketAxess Holdings Inc.
+1 212 813 6226
msedarat@marketaxess.com
Davis MacMillan
RF | Binder
+1 212 994 7509
MarketAxessPR@rfbinder.com
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SOURCE MarketAxess