MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for U.S. and European high-grade corporate and emerging markets bonds, today announced the addition of RBC Capital Markets as a participating dealer on MarketAxess' European platform.
RBC Capital Markets is the first Canadian dealer to join the MarketAxess platform and brings the total number of dealers participating on the global platform to 24.
"We are very pleased to welcome RBC Capital Markets as a participating dealer on the platform," said Iain Baillie, Head of MarketAxess Europe. "The quality and quantity of dealers on the MarketAxess platform is a critical driver of best execution for our clients, and the addition of RBC Capital Markets will serve to further strengthen and deepen the liquidity pool already available on our platform."
Jonathan Hunter, Head of Liquid Products at RBC Capital Markets, said, "We're building on our strong electronic distribution capabilities in the European markets, and MarketAxess allows us to broaden our European corporate bond distribution to institutional investors."
The MarketAxess European platform currently has 19 dealers providing liquidity on the system, including ABN AMRO, Banc of America Securities, Barclays PLC, Bear Stearns, BNP Paribas, Citigroup Global Markets, Credit Suisse First Boston, Deutsche Bank Securities, DZ Bank, Goldman Sachs, HSBC, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, RBC Capital Markets, The Royal Bank of Scotland, SG Corporate & Investment Banking and UBS.
Launched in August 2001, MarketAxess Europe Ltd. is the first platform in Europe to offer a disclosed multi-dealer inquiry capability for credit products, allowing institutional investors to view multiple bids and offers from participating dealers. In the first eight months of 2005, trading volume for the European platform totaled $50.3 billion.