Business and Finance Business and Finance
Wed, January 18, 2012

MarketAxess is Approved to Trade Local Currency Debt in Brazil


Published on 2012-01-18 07:07:38 - Market Wire
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NEW YORK & LONDON--([ ])--MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for U.S. and European highagrade corporate bonds, emerging markets bonds and other types of fixedaincome securities, today announced it has received authorization from the Comisso de Valores Mobilirios a" CVM (Securities and Exchange Commission of Brazil) and the Central Bank of Brazil to offer eatrading of local currency debt. Brazilian local currency government and corporate bonds are available on the MarketAxess trading platform. Global institutional investor clients can benefit from MarketAxessa patented RFQ technology to request competitive, executable bids or offers to multiple brokeradealers, and execute with the dealer of choice.

aWe are very pleased to be able to offer Brazilian local currency debt trading to our global customers. The current estimated average daily volume (ADV) in the Brazilian local debt market is approximately $5.1 billion and we believe access into this marketplace represents an important development for our emerging market (EM) clients, eager to participate in one of the worldas fastest growing local currency debt markets. We currently have 10 dealers prepared to provide liquidity in Brazilian local currency bonds on the platform and expect that number to grow. We have had strong interest from clients in North America and Europe in accessing these markets and anticipate continued appetite for crossaborder trading both locally and globally,a said Kevin McPherson, Head of Sales, MarketAxess.

aWe believe that MarketAxessa patented RFQ technology is the trading protocol best suited for OTC trading of less liquid instruments such as local emerging markets debt. For over 10 years, we have succeeded in delivering our eatrading platform for global EM bonds and other fixed income products, and will continue to expand into new emerging markets,a said Sandy White, Emerging Markets Product Manager, MarketAxess.

About MarketAxess

MarketAxess operates a leading electronic trading platform that enables investment industry professionals to efficiently trade corporate bonds and other types of fixedaincome instruments. MarketAxessa patented trading technology allows institutional investor clients to request competitive, executable bids or offers from multiple brokeradealers simultaneously, and to execute trades with the brokeradealer of their choice. Over 850 institutional investors are active users of the MarketAxess trading platform, accessing the global liquidity provided by MarketAxessa 80 brokeradealer clients in U.S. highagrade corporate bonds, European bonds, high yield and emerging markets bonds, agency bonds, assetabacked and preferred securities and credit default swaps. MarketAxess also offers a number of tradingarelated products and services, including: market data to assist clients with trading decisions; connectivity solutions that facilitate straightathrough processing; technology services to optimize trading environments; and execution services for exchangeatraded fund managers and other clients.

MarketAxess maintains its headquarters in New York and has offices in London, Chicago and Salt Lake City. For more information, please visit [ www.marketaxess.com ].

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