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NEW YORK, June 23, 2021 (GLOBE NEWSWIRE) – MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed income securities, and the provider of market data and of Post-Trade Services for the Global Fixed Income Markets, today announced a series of new enhancements for clients using portfolio trading on the MarketAxess platform to better integrate with a comprehensive suite of trading solutions. trading.

MarketAxess has enhanced its portfolio trading solution to include support for multi-directional lists and multi-currency lists, designed to integrate seamlessly with existing List RFQ functionality. These enhancements provide clients with a streamlined workflow to efficiently execute single, list, and portfolio transactions according to their preferred strategy. Built-in net spotting capabilities are also available through MarketAxess trading protocols, including portfolio trading, supported by the premium pricing available through the MarketAxess rate market, formerly LiquidityEdge.

Portfolio trading today represents a small but growing share of the US credit market with an average daily volume of around $ 1.5 billion, or around 3.8% of US High Grade and US High Yield TRACE volume. Since the technology’s recent release at the end of May, over 50 portfolio transactions have been completed on MarketAxess with 17 unique investor firms and 9 brokers.

“We have seen a steady but significant increase in client adoption of portfolio trading since improving our service,” commented Kevin McPherson, Global Sales Manager at MarketAxess. “Execution security on a broad basket of instruments has become more important to our clients, especially at the illiquid end of the spectrum. We have enhanced both our price data and our portfolio trading tools to provide a comprehensive set of effective tools to meet client execution goals.

Paul Glezer, who heads JP Morgan’s North American portfolio trading team, said, “JP Morgan continues to experience rapid growth in its portfolio trading business globally. Clients benefit from additional opportunities for interaction with brokers when seeking to take advantage of the liquidity tool that portfolio trading has become. Additionally, high quality data and efficient workflow for buyers and sellers continue to be the primary drivers of this space. “

Andrew Ruskulis, Director of the Global Fixed Income team at MacKay Shields LLC, added, “Efficiency and certainty of execution are two critical factors driving demand for portfolio trading. A technology that improves the likelihood of execution through more dynamic workflows and combines deep liquidity with the use of benchmarks, such as Composite +, to confidently execute complicated listings is in our opinion a changer. game. “

MarketAxess’ portfolio trading solution enables fast and efficient execution of up to 1,800 list items. It incorporates the company’s AI-powered Composite + benchmark pricing, which provides real-time pricing content at the individual bond and portfolio level. With extensive data capabilities, advanced analytics are available, allowing traders to determine the potential for execution on the portfolio.

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 the 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.

Caution regarding forward-looking statements
This press release may contain forward-looking statements, including statements about the prospects and growth prospects of the Company and the industry, as well as statements about the future financial and operational performance of the Company. These and other statements regarding future results and events are based on the current expectations of MarketAxess. The Company’s actual results for future periods may differ materially from those currently expected or desired due to a number of risks and uncertainties, including: global economic, political and market factors; risks associated with the COVID-19 pandemic, including the possible effects of global economic conditions resulting from the COVID-19 pandemic; the risks associated with the United Kingdom’s exit from the European Union; the level of transaction volume processed on the MarketAxess platform; the rapidly changing nature of the electronic financial services industry; the level and intensity of competition in the electronic fixed income trading industry and the resulting pricing pressures; the variability of our growth rate; our ability to introduce new pricing plans and our customer response; our ability to attract customers or adapt our technology and marketing strategy to new markets; risks associated with our growing international operations; our dependence on our broker clients; the loss of one of our major institutional investor clients; our exposure to risks resulting from non-execution by counterparties of transactions executed between our clients in which we act as an intermediary in matched principal transactions; the risks associated with self-erasure; the effect of rapid market or technological changes on us and the users of our technology; our dependence on third party suppliers for key products and services; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business disruptions; the occurrence of design flaws, errors, failures or delays with our platforms; our vulnerability to cybersecurity risks; our actual or perceived non-compliance with privacy and data protection laws; our ability to protect our intellectual property rights or our technology and to defend ourselves against intellectual property infringement or other claims; our ability to forge strategic alliances and acquire other businesses and successfully integrate them into our business; our dependence on our management team and our ability to attract and retain talent; the limitations of our flexibility because we operate in a highly regulated industry; increasing government regulation of us and our customers; our exposure to the costs and penalties associated with our extensive regulation; our risks of litigation and liability under securities laws; our future capital needs and our ability to raise capital when needed; the limitations of our operational flexibility contained in our credit agreement; and other factors. The Company does not undertake to update any forward-looking statements, whether as a result of new information, future events or otherwise. Further information on these and other factors affecting the business and outlook of MarketAxess is contained in MarketAxess’ periodic filings with the Securities and Exchange Commission and can be found at www.marketaxess.com.



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