MarketAxess Holdings has enhanced its European credit trading platform with the addition of a further four market-making broker-dealers.
The new dealers providing liquidity to institutional investors in European credit are: Australia and New Zealand Bank (ANZ), Canadian Imperial Bank of Commerce (CIBC), Mizuho, and Toronto-Dominion (TD). This brings the total number of broker-dealers on the European platform to 34.
Through its Singapore branch, MarketAxess Europe has also recently enhanced liquidity in Asian credit with the addition of DBS Bank. This brings the total number of broker-dealers providing liquidity for Asia Credit during Asia trading hours to 26.
Today, over 90 global broker-dealers are active participants on the MarketAxess system, providing liquidity in a broad range of credit instruments including US high-grade corporate bonds, European bonds, high-yield bonds, emerging markets bonds, agency bonds, asset-backed and preferred securities and credit default swaps.
Graham Halliday, Head of Fixed Income Trading, Mizuho, says: "We are delighted to add MarketAxess to our existing electronic trading offering for European credit. Broadening investor coverage is essential in further enhancing our established profile in this area. Electronic trading is the key medium underpinning the rapid growth of our European credit franchise."
Michael Murphy, Head of Investment Grade Trading, Toronto-Dominion Bank (TD), says: "Following our very successful launch on the MarketAxess platform in the US in 2014, we are excited to join MarketAxess Europe and continue growing TD's global credit franchise."
Chris Jones, Head of Dealer Sales, MarketAxess Europe, says: "MarketAxess is committed to providing global credit market participants with unparalleled trading technology, and a broad and diverse liquidity pool. The addition of these new dealers and advances in our trading functionality has further bolstered our offering in Europe. European trading volumes, so far this year, have more than doubled compared to the same period last year, and this strong growth is testament to our focus on continually improving the liquidity available to our European clients."
