Straight-Through Processing (STP) tools allow clients to create, negotiate and execute orders – all with seamless front to back office system integration.
The experience of creating direct connectivity with over 200 institutional investor clients' order management systems (OMS) allows MarketAxess to help integrate front and back office trading systems quickly and efficiently. According to our client investors' needs, MarketAxess connectivity solutions can be customized and configured independently or concurrently.
- FIX Messaging – messaging infrastructure that provides real-time bi-directional connectivity automating the entire trade process, thus reducing error and maximizing efficiency.
- SOAP Web Service – interface that allows any system with access to the internet to have bi-directional connectivity to allow all trading and allocation activity to appear in MarketAxess.
- Excel Add-In – establishes a connection to the MarketAxess system that allows orders and allocations to be sent in, as well as orders, trades, and allocations to be downloaded directly.
- STP Messenger – a Windows-based service that disseminates real-time messages on trade executions, sub-account allocations and dealer acknowledgements.
Connectivity Protocols and Solutions:
While STP connectivity can help investors to realize the full benefits of electronic trading, MarketAxess also offers API (application program interface) solutions to the dealer community. API connectivity to the trading system allows dealers to electronically submit inventory, negotiate trades, receive Notice of Executions (NOEs), acknowledge allocations and receive FINRA trade data.
In February 2013 MarketAxess completed its acquisition of Xtrakter, a leading provider of regulatory transaction reporting, financial market data and trade matching services to the European securities markets. Together, MarketAxess and Xtrakter are uniquely placed to take advantage of the broad-reaching changes taking place in the European fixed income markets as incoming regulations present new and significant opportunities across the region. The combination of extensive market and reference data, a broad suite of protocols for trade execution and robust post-trade services mean that MarketAxess and Xtrakter can offer dealers and investors a full suite of valuable tools to help manage their fixed income trading and investment risk.
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To help buy-side and sell-side clients improve their connectivity through the entire trade cycle, we have developed industry partnerships, including 11 of the leading order management system (OMS) providers.