MarketAxess Expands Global Fixed Income Trading Network to Chinese Bond Market

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2021-09-28

NEW YORK and HONG KONG, September 28, 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 Global Fixed Income Markets, today announced the launch of a new trading channel providing global investors with access to the China Interbank Bond Market (CIBM). Access is via the connection between CFETS and MKTX under the Bond Connect and CIBM Direct programs, in partnership with China Foreign Exchange Trade System (CFETS) and Bond Connect Company Limited (BCCL).

Global investors on MarketAxess can now trade Chinese bonds onshore through a single, integrated and easy-to-use trading interface.

“This launch is the result of a close partnership between MarketAxess and CFETS which aims to improve the investor experience in the China interbank market ”, declared Rick mcvey, Chairman and CEO of MarketAxess. “I am delighted that together we are able to bring a greater and more diverse participation of global investors to the $ 15 billion onshore bond market, and I am delighted to consider the many opportunities for collaboration that are available to us. “

Christophe Roupie, Head of EMEA & APAC at MarketAxess, added: “We have seen a 74% increase in our trading volume through Asia Pacific in 2020. This success builds on the strategic investments we have made to help the region’s bond markets innovate, improve workflow efficiency and attract greater participation from global clients. This launch is another important step for our continued international growth. “

Zhang Yi, President of CFETS, said: “As an important financial infrastructure of from China interbank bond market, CFETS is committed to helping global investors invest in the interbank bond market while continuously providing better services through closer collaboration with global trading platforms. Our partnership with MarketAxess can now offer foreign investors new access to the continental bond market. In the future, both sides will explore more opportunities to further promote the openness of from China interbank bond market.

MarketAxess clients will be able to trade directly with onshore market makers via CFETS, using already familiar MarketAxess trading protocols such as Request For Quote (RFQ) and List Trading functionality. The addition of China interbank market extends MarketAxess’ leading global fixed income trading coverage, which has reached $ 669 billion of the total volume of credit transactions in the second quarter. It also strengthens the company’s leadership in emerging market debt, which currently covers more than 27 local currency bond markets and more than 1,800 trading participants through the global Open Trading ecosystem.

“We are excited to add MarketAxess as a new platform to access the Bond Connect trading link,” said Julien martin, Managing Director of Bond Connect Company Limited. “We are optimistic that this will further promote improved liquidity alongside growing international participation in the China interbank bond market. We are seeing increased demand for credit assets among foreign investors, and we believe MarketAxess will add significant value in the space. “

“We are pleased to note that access to China the onshore bond market is made simpler and more efficient. China represents a huge opportunity for foreign investors. This is especially true for the growing onshore bond market, where continued inclusion in major global indices helps to generate investor interest, ”said Patrick leung, Head of Fixed Income and APAC FX Trading at BlackRock.

Stephen chang, Portfolio manager, Asia at PIMCO, also commented: “The expansion of from China debt market and its continued inclusion in major global indices is driving increased investor demand for Chinese corporate and government bonds. We are very happy to see MarketAxess offering a simple and integrated way to trade these bonds on its platform, and we look forward to the efficiency gains that will ensue. “

For more information on MarketAxess’ China offer, please visit our website: https://www.marketaxess.com/trade/china/

About MarketAxess

MarketAxess operates a leading institutional electronic trading platform offering expanded liquidity opportunities, improved execution quality and significant cost savings in global fixed income markets. A global network of more than 1,800 companies, including the world’s leading asset managers and institutional brokers, harnesses MarketAxess patented trading technology to trade bonds efficiently. MarketAxess’ award-winning Open Trading® marketplace is considered the preferred global trading solution in global credit markets, creating a unique liquidity pool for a wide range of credit market participants. Leveraging its in-depth data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services. For more information, please visit www.marketaxess.com.

SOURCE MarketAxess Holdings Inc.


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