CDS indices, credit default swaps, e-trading, electronic trading platform

The Global Credit Markets Have Changed - Has your trading strategy?

MarketAxess All-to-All Open Trading™ is a new way to trade corporate, municipal, emerging market bonds and CDS.

MarketAxess Open Trading is the leading, all-to-all institutional corporate, municipal, emerging market bonds and credit default swap (CDS) marketplace. Our flexible, intelligent technology is based on a proven model that's been redefining the credit markets for more than a decade. The Open Trading protocols are seamlessly integrated into MarketAxess' well-established client-to-multi-dealer request-for-quote (RFQ) trading system, resulting in single-screen access for all market liquidity.

Open Trading Case Studies

Competing for returns in today's bond market demands fresh thinking. Traditional approaches to finding liquidity can fall short in a global market fundamentally reshaped by regulation and technology.

That's why investors are taking a hard look at new approaches to achieving the quality execution and cost-savings needed to deliver competitive returns and sustain profitability. At the heart of investors' new thinking is a drive to expand liquidity options and access the full range of trading opportunities in electronic markets.

Below, two institutions tell how they retooled their approaches, incorporating Open Trading to help them tap new liquidity sources, sharpen execution, lower costs and manage risks.

Open Trading Analyst Coverage

Recent Greenwich Associates study confirms the growing importance of "all-to-all" trading – September 2016

In the recent report "Understanding the U.S. Fixed - Income Market" interviewing about 4,000 institutional investors active in fixed income globally, Greenwich Associates confirms the growing importance of "all-to-all" trading to market participants and believes it will continue its steady growth over time.

The corporate bond market's adoption of Open Trading, MarketAxess' “all-to-all" trading solution, has been accelerating for some time. Over 93,000 bond transactions were completed on Open Trading in the second quarter of 2016, up from 38,000 in the year-earlier quarter.

Latest Open Trading Research from MarketAxess

The Rise of the Buy-Side as a Price Maker
   - by Gareth Coltman, Head of European Product Management, MarketAxess

Open Trading™ offers new trading opportunities in the high-yield markets
   - by Sandy White, High-Yield and Emerging Markets Product Manger, MarketAxess