News Americas, NEW YORK, Nov. 14, 2017: MarketAxess Holdings Inc. (Nasdaq: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, today announced that trading in Latin American corporate and sovereign bonds set a record of $110.5 billion in the nine months ending September 30th, up 36% compared with the year-earlier period.
Trading in Latin American debt denominated in local currency was up 27% to a record $30 billion year-to-date through the third quarter. MarketAxess currently supports trading in the currencies of Brazil, Mexico, Argentina, Colombia, Peru, Chile, and Uruguay. In addition, trading in hard currency debt was up 40% to $80 billion in the same period. Growth on the MarketAxess platform came despite relatively flat Emerging Market trading volumes overall, with estimated market volume growth of 6% year-to-date based on FINRA TRACE and Trax® volumes reported in US dollars.
On a global basis, more than 840 institutional investors have traded Latin American debt on the MarketAxess platform. Contributing to the activity in the region has been a significant increase of 64% in trading volume by Latin America-based clients on MarketAxess.
“While it’s been a challenging year for fixed income in many regions, we continue to see impressive growth in electronic trading volumes among our clients in Latin America,” said Kevin McPherson, Global Head of Sales, MarketAxess. “Our investor and dealer clients in the region are actively accessing the full range of products on the MarketAxess platform.”
“More and more institutional investors are seeing the value of a centrally located global fixed income marketplace for local and global market participants,” added Sandy White, Global EM Product Manager, MarketAxess. “Our growth and expansion in Latin America is part of our global strategy to provide the most comprehensive coverage of hard and local currency emerging market debt.”
MarketAxess offers global 24-hour electronic trading for debt denominated in hard and local currency across three major EM regions – Latin America, Europe and Asia. Last year, the company expanded its Latin America team with senior leadership hires in Miami and São Paulo.
MarketAxess operates a leading electronic trading platform that enables fixed-income market participants to efficiently trade corporate bonds and other types of fixed-income instruments using MarketAxess’ patented trading technology. Over 1,300 institutional investor and broker-dealer firms are active users of the MarketAxess trading platform, accessing global liquidity in U.S. high-grade corporate bonds, emerging markets and high-yield bonds, European bonds, U.S. agency bonds, municipal bonds, credit default swaps and other fixed-income securities. MarketAxess also offers a number of trading-related products and services, including: market data to assist clients with trading decisions; connectivity solutions that facilitate straight-through processing; technology services to optimize trading environments; and execution services for exchange-traded fund managers and other clients. Through its Trax® division, MarketAxess also offers a range of pre- and post-trade services, including trade matching, regulatory transaction reporting and market and reference data, across a range of fixed-income products. Trax is the trading name of Xtrakter Ltd., a MarketAxess group company.
MarketAxess maintains its headquarters in New York and has offices in London, Boston, Chicago, Los Angeles, Miami, Salt Lake City, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.