Merrill Lynch has signed up as a participating dealer to the MarketAxess online credit trading platform.
Merrill Lynch joins current MarketAxess participants UBS Warburg, Morgan Stanley, Lehman Brothers, J.P. Morgan Chase, Dresdner Kleinwort Wasserstein, Deutsche Bank Securities, Credit Suisse First Boston, BNP Paribas, Bear Stearns, Banc of America Securities, and ABN Amro.
David Lund, global head of credit trading at Merrill Lynch, comments: “MarketAxess allows clients to capitalise on a sophisticated e-commerce platform – reducing their costs, improving trading time, and increasing transparency and liquidity.”
MarketAxess provides a range of services to institutions investing in less liquid credit products, including rapid price discovery, trade execution and access to the co-mingled research and new issue securities of its group of leading global dealers. The platform enables investors to instantly direct trade inquiries and negotiations to their dealers while affording dealers an efficient way to communicate their axes and transact with their clients.