While hundreds of sell-side clients routinely engage the MTS Bonds.com platform through their GUI and/or direct API trading, this significant move by the buy-side reflects a behavioral shift as the reduction in dealer inventory has led to some larger asset managers looking to make markets on corporate bonds.

The FIX 4.4 API interface allows the MTS Bonds.com platform to deliver direct trade execution against its all-to-all central limit order book, liquidity contributions, integrated post-trade functionalities and real-time streaming price updates. This now offers buy-side users an expansive view to make better decisions on creating orders and/or executing trades as well as to integrate seamlessly into existing OMS/EMS providers or internal proprietary system using industry standard FIX 4.4 protocol. The first API trade resulting from a price generated by a buy-side institution took place last month.

Mark Monahan, CEO of MTS Markets International, said: “Our goal is to service both the sell-side and the buy-side. Seamless price making and processing by the buy-side has now become an important part of this environment, and innovations such as our API launch reflect the importance of rapidly responding to marketplace demands. We are delighted that key fixed income asset managers have already taken advantage of this opportunity, and we expect more to follow in the upcoming weeks.”

MTS acquired the Bonds.com platform in May to expand its offering for its US clients. The platform provides clients access to over 600 buy- and sell-side institutions.