MarketAxess Expands Match to Wider User Base
Match, a central limit order book (CLOB), was previously only open to certain institutions and offered a select range of single-name CDS for trading. Barclays acts as a primary market maker on the platform, which allows for anonymous orders.
"We are very pleased that Barclays has agreed to act as a key market maker in this new market for single-name CDS," says Kevin McPherson, head of US sales at MarketAxess. "We believe that a centralized all-to-all marketplace, offering a variety of trading protocols, is an effective way to increase overall credit-market liquidity. Alongside our swap execution facility for CDS index trading, Match will help to further increase transparency and broaden participation in the CDS market."
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