MarketAxess and BlackRock's Open Trading Comes to Europe
MarketAxess and BlackRock expand strategic trading alliance to European marketplace.
Already in place in the US, the alliance between BlackRock's Aladdin Trading Network (ATN) and MarketAxess aims to improve liquidity sourcing, a recurrent issue in the fixed-income space, and reduce transaction costs for European market participants.
BlackRock's clients will benefit from streamlined access to MarketAxess's liquidity options and data products through the Aladdin platform.
Open Trading enables all buyers and sellers to source liquidity from all other MarketAxess system participants in a single, independent marketplace for credit trading.
"Our Open Trading alliance with BlackRock in the US has led to meaningful improvement in credit market liquidity and a promising path forward to deal with much larger global credit markets and significant regulatory changes," says Rick McVey, chairman and CEO of MarketAxess. "We are pleased to extend this alliance to Europe, where investors and dealers are facing many of the same liquidity challenges."
According to McVey, over 7 percent of US high-grade trades on MarketAxess now take place via Open Trading protocols, compared to just 2 percent a year ago.
"The fixed-income investment landscape has evolved more quickly than the market's underlying structure for transacting, challenging buyers' and sellers' abilities to connect and transact, requiring investors to explore new avenues of liquidity to meet their needs," says Richie Prager, global head of trading and liquidity strategies at BlackRock.
Clients in Europe will also have access to Trax's market data, with volume and pricing data from 40,000 daily regulatory reported transactions, and quoted and traded prices on over 50,000 unique bonds.
BlackRock is also working with Tradeweb to integrate Tradeweb's liquidity and pricing information for rates products directly onto the Aladdin Trading Network dashboard.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Agentic AI and big questions for the technologists
Waters Wrap: Much the same way that GenAI dominated tech discussions over the last two years, the road ahead will feature a lot of agentic AI talk—and CIOs and CTOs better be prepared.
Waters Wavelength Ep. 302: Connectifi’s Nick Kolba
Nick joins the show to give his views on trends in the interoperability space and the FDC3 standard.
AI co-pilot offers real-time portfolio rebalancing
WealthRyse’s platform melds graph theory, neural networks and quantum tech to help asset managers construct and rebalance portfolios more efficiently and at scale.
Waters Wavelength Ep. 301: SIX’s Javier Hernani
Javier Hernani, head of securities services at SIX, joins to discuss everything T+1.
Bloomberg debuts GenAI news summaries
The AI-generated summaries will allow financial professionals to consume more data, faster, officials say.
8 bank CTOs and CDOs sound off on artificial intelligence
Waters Wrap: Last year, WatersTechnology spoke with heads of technology and data from a range of tier-1 banks. Anthony pulls at one common thread from those interviews: AI.
Waters Wavelength Ep. 300: Reflecting on humble beginnings
It is our 300th episode! Tony and Shen reflect on how it all started.
An inside look: How AI powered innovation in the capital markets in 2024
From generative AI and machine learning to more classical forms of AI, banks, asset managers, exchanges, and vendors looked to large language models, co-pilots, and other tools to drive analytics.