MarketAxess Makes Big Push for Asia
New York-based MarketAxess Holdings Inc., a market data provider and operator of an electronic trading platform for fixed-income securities, enhanced their platform to trade local currency Asian bonds. Platform participants can now trade in Singapore dollar, Thai baht and Indonesian rupiah. Price discovery, identifying credible counterparties and lower trading costs in fixed income are high priorities for institutional investor such as sovereign wealth funds, hedge funds and large Chinese insurers. High-yield bond investors continue to navigate an unsettled credit market, looking for price discovery. In December, the company opened a Hong Kong office, alongside its first Asian office in Singapore. MarketAxess has embarked to recruit local talent and invest in more relationships in the Asia-Pacific corridor.
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