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, announces the launch of Axess All(TM), the first intra-day trade tape for European fixed income markets, providing aggregated volume and pricing for the most actively traded fixed income instruments in Europe.
Bond information within Axess All includes last trade, daily high and low trade prices, aggregate trade volume, and volume weighted average prices (VWAP). Trade data in Axess All consists of all major European bond sectors including government bonds, corporate bonds, emerging market debt and covered bonds. The data is provided by MarketAxess subsidiary, Trax(R), a leading regulatory reporting, post-trade matching and financial market data provider, with a one hour delay.
Axess All was developed in collaboration with some of the most active fixed income market participants in Europe, in response to investor and dealer demand for greater insight into the activity of the European bond markets. It is available and distributed on the MarketAxess BondTicker(TM) platform, a leading web-based data source for global fixed income market data. MarketAxess participants can also view Axess All via the MarketAxess trading platform. Axess All includes intuitive search and sorting functionality to help users source market information on specific bonds.
Rick McVey, Chairman and CEO, MarketAxess, said: "We believe that more open and transparent European fixed income markets will increase market participation and liquidity. Axess All represents a logical step, ahead of MiFID II/MiFIR transparency requirements for fixed income instruments, to provide a trade tape in the most actively traded European bonds that will help dealer and investor clients manage market risk. Axess All also represents a valuable new data source to assist investors with Transaction Cost Analysis."
Kevin Swann, Head of Data, Trax, added: "The data set within Axess All is sourced from over 40,000 bond transactions processed daily by Trax through its post trade services offering, making it possibly the most robust set of European fixed income trade data available today. On a typical day, Axess All displays data for approximately 400 credit securities representing, on average, about 40% ofnting, on average, about 40% of the corporate bond volumes processed by Trax. By aggregating data, including size and price, and by including only the most actively traded bonds, we believe that Axess All delivers a considered level of transparency that will help boost liquidity in the markets by providing valuable and unique market insights."