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 that it is working with Bloomberg to establish a direct interface between the MarketAxess electronic credit trading platform and the Bloomberg Portfolio Order Management system (POMS) on the Bloomberg Professional service.
Using the FIX 4.4 protocol, the interface between MarketAxess and Bloomberg will allow MarketAxess users of Bloomberg POMS to send trade inquiries from their POMS fixed income blotter directly into the MarketAxess trading platform. Upon execution of a trade, MarketAxess will then transmit the filled orders back to Bloomberg POMS. This new workflow eliminates several manual re-keying steps in the trade processing cycle, enhancing straight through processing (STP) for MarketAxess clients who are also users of Bloomberg POMS.
Nick Themelis, Chief Information Officer of MarketAxess, commented, "Linking the superior execution capabilities of the MarketAxess platform with POMS on the Bloomberg Professional service dramatically increases the efficiency of trading fixed income for U.S. and European MarketAxess clients that use POMS. With this agreement, we are creating a seamless trading process from order initiation to post-trade portfolio management, removing several manual steps in the process."
This development will provide a pre-integrated two-way connection to MarketAxess for users of Bloomberg POMS. With this integration, users can ensure that their orders have passed through Bloomberg's pre-trade compliance module prior to sending the orders to MarketAxess. In addition, all information will be properly time-stamped and captured in the Bloomberg POMS audit trail module, as well as in the full audit trail captured on the MarketAxess platform.