MarketAxess has added new electronic treasury pricing capabilities to its Internet-based dealing platform for credit products.
The new auto-spotting feature uses live dealer-supplied US treasury price feeds to progress trades instantaneously from spread to treasury spot to final price. Institutional investors can now execute trades with their dealers in seconds compared to the traditional phone-based process which can take over five minutes to complete, says the company.
Joe Marvan, head of US fixed income for State Street Global Advisors, comments: "With Auto-spotting, MarketAxess has set a new standard for speed in trading spread-based financial instruments. This will act as a catalyst to continue the acceleration of trading volume.”
MarketAxess connects institutional investors and dealers, offering a range of securities, including high grade corporates, Eurobonds, emerging markets, high yield and convertible bonds.