Rick McVey, Chairman and CEO of MarketAxess, said, “Since the original Open Trading strategic alliance with BlackRock in 2013, we have seen meaningful adoption of new trading models from credit market participants. Far-reaching regulatory changes are causing buy- and sell-side traders to seek out broader and more efficient liquidity pools. In 2017, 16.2% of all MarketAxess platform volume was executed via Open Trading, up from 13.2% in 2016. With the growth in Open Trading, market participants are seeing a wider range of bond trading opportunities with lower transaction costs.”
“MarketAxess has been a tremendous partner and we are excited to extend our partnership with them to Asian credit markets,” said Richie Prager, Head of Trading, Liquidity and Investments Platform for BlackRock. “As the Asian credit market evolves, we remain committed to delivering innovative liquidity and investment solutions that benefits our Investment and Aladdin clients around the world.”
Richard Schiffman, Head of Open Trading at MarketAxess, added, "Open Trading has become a meaningful source of liquidity for MarketAxess’ buy- and sell-side customers. In 2017, 950 individual firms actively used Open Trading to trade credit, up from 840 firms in 2016. This expanding pool of participants helped drive a 65% year-over-year increase in Open Trading price responses. This is new and actionable liquidity that is only available by bringing together investors, dealers and other market participants onto a single all-to-all platform.”
MarketAxess and BlackRock Expand Global Strategic Trading Alliance Into Asia Nasdaq:MKTX
