© Shutterstock
MarketAxess Holdings Inc. (NASDAQ: MKTX), a leading operator of an electronic trading platform for fixed-income securities, has expanded its Open Trading product to include local currency bonds. The new feature was launched on Tuesday, enabling clients and dealers to trade bonds denominated in Polish Zloty (PLN), Czech Koruna (CZK), Hungarian Forint (HUF), and South African Rand (ZAR).
This launch represents a significant enhancement to MarketAxess’ global Emerging Markets (EM) offering. It facilitates the connection between local onshore dealers and an international network of buyside clients, deepening the liquidity pool available. In the first half of 2023, EM local currency bonds accounted for over 40% of MarketAxess’ global EM volumes, which totaled $360 billion.
Christophe Roupie, Head of EMEA and APAC at MarketAxess, noted that the expansion of Open Trading across their 28 local markets is a response to client demand. “Expanding Open Trading in these four new local markets is only the first step,” he said, adding that there are plans to extend the model to more local currencies in the first half of next year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
