MarketAxess Holdings (Nasdaq: MKTX), the operator of a leading electronic trading platform for credit, and Investment Technology Group (NYSE: ITG), a specialized agency brokerage and technology firm, today announced an agreement to provide integrated access to the MarketAxess fixed income compliance suite and ITG's equities transaction cost analysis product, ITG TCA.
The agreement addresses the growing need of institutional clients for integrated solutions to measure best execution when trading across asset classes. Through linkages between their respective product offerings, MarketAxess and ITG will provide access to transaction cost analysis and compliance tools for equities, investment grade bonds, high yield bonds, emerging market bonds, and Eurobonds via ITG's post-trade analysis products and MarketAxess' compliance product offering.
"ITG is committed to providing its clients with an integrated suite of products that help them navigate the complexities of the marketplace," said Bob Gasser, ITG's CEO and president. "Easier access to MarketAxess' compliance suite provides our clients with fixed income compliance and analytics tools, complementing our equities TCA suite."
"As institutional investors continue to look for compliance solutions to monitor their trading activity across asset classes, aligning our capabilities with ITG is an exciting development for us and our clients," said Richard M. McVey, chairman and chief executive officer of MarketAxess. "Bringing together market leadership and technology resources in our respective asset classes, our alliance with ITG is highly complementary."
MarketAxess compliance tools enable clients to review credit trading activity, quantify best execution, monitor trade exceptions, verify dealer performance and access archived reports. The offering is accessed through MarketAxess Corporate BondTicker(TM), the data service that provides market participants with the most robust corporate bond price information available.
ITG TCA helps clients to optimize fund performance through global transaction cost assessment, peer group comparison, performance analytics, and expert consulting. With ITG TCA, clients can customize their investment process analysis, and monitor and enhance trading performance. At the heart of ITG TCA is ITG's industry-leading cost estimation model, supported by in-depth peer group comparative data and benchmark performance measurement. Clients can access ITG TCA directly through a web portal, or via a connection to ITG's execution management systems.
Interested clients should contact their ITG or MarketAxess sales representative.