News by sections
ESG

News by region
Issue archives
Archive section
Multimedia
Videos
Podcasts
Search site
Features
Interviews
Country profiles
Generic business image for news article Image: photon_photo/stock.adobe.com

18 November 2021
US
Reporter Carmella Haswell

Share this article





MarketAxess extends emerging and frontier markets liquidity to Egypt, Hong Kong and Serbia

MarketAxess, operator of an electronic trading platform for fixed-income securities, has announced that it has added Egypt (EGP), Hong Kong (HKD) and Serbia (RSD) to its Emerging Markets (EM) local markets offering.

Local currency trading, which now includes onshore Chinese debt (CNY), has grown to over US$147 billion year-to-date, up 20 per cent on the same period in the prior year. The number of active participants trading EM debt across the MarketAxess platform also reached a record of over 1,300 firms in the third quarter.

Local markets across Latin America have been particularly active on the MarketAxess platform. With a record US$33.5 billion traded in the first three quarters of 2021, Mexico is the largest emerging market traded on MarketAxess.

Brazil is the second-largest emerging market with US$21.1 billion traded in the same period.

Kevin McPherson, global head of sales at MarketAxess, notes: “Investors are increasing their exposure to emerging markets, including frontier markets, in the face of increased demand for yield, broader index inclusion and easing of pandemic-linked monetary policy. Our volume growth through the first three quarters of this year is testament to that, and to the success of the unique all-to-all EM trading ecosystem that we have built to support them.”

Maria Calderon, head of sales for Latin America, MarketAxess, adds: “MarketAxess has broadened the liquidity pool and helped to improve execution efficiency by delivering a range of protocols and tools designed specifically for how emerging markets debt is traded.

“Request-for-Market (RFM), Switch Trading and now EM Portfolio Trading have all seen rapid and significant adoption across both hard and local currency debt. These and other innovations have helped to deliver unique cost-saving and alpha-generation opportunities for our EM clients.”

Subscribe advert
Advertisement
Video image
Video:
Securities Finance Technology Symposium

A heartfelt thank you to everyone who made the 6th Securities Finance Technology Symposium in London a resounding success! It was a fantastic day filled with insightful panel sessions covering crucial topics such as repo, regulation, collateral and future tech. Here are some of the highlights

Watch online
View all Videos
Get in touch
News
More sections
Black Knight Media