MarketAxess Holdings Inc. (MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced the issuance of its thirteenth patent for electronic trading technology in credit instruments.
The latest patent (U.S. Patent No. 8,682,777) was granted for aspects of MarketAxess' "work-up" functionality between dealers on the platform, and provides additional patent protection for technology reflected in MarketAxess' current major trading functionalities. The new patent complements and supports existing patents granted to MarketAxess for client-to-dealer List Trading, alongside a broad portfolio of patents for electronically trading corporate securities.
Rick McVey, Chairman and CEO of MarketAxess, said: "This important patent augments our extensive patent portfolio for the core, proprietary electronic trading functionality we have developed for credit e-trading. Our first patent was awarded in 2009 for List Trading between investors and dealers, and we have subsequently been granted numerous patents for our pioneering trading technology. Most recently, our focus has been on developing technology for all-to-all trading and this latest patent recognizes a unique functionality that can support the dealer workflow on the platform."