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Open Trading is an all-to-all trading marketplace that allows participants, including buy- and sell-side firms, to connect via a central network on the MarketAxess trading platform.

The partnership brings together order flow from one of the world’s largest asset managers and its broad Aladdin client community with MarketAxess’ network of more than 1,300 global investor and dealer firms to improve the range of trading connections available to Asian credit market participants.

“Since the original Open Trading strategic alliance with BlackRock in 2013, we have seen meaningful adoption of new trading models from credit market participants,” said Rick McVey, chairman and CEO of MarketAxess.

“Far-reaching regulatory changes are causing buy- and sell-side traders to seek out broader and more efficient liquidity pools. In 2017, 16.2% of all MarketAxess platform volume was executed via Open Trading, up from 13.2% in 2016. With the growth in Open Trading, market participants are seeing a wider range of bond trading opportunities with lower transaction costs.”

Richie Prager, head of trading, liquidity and investments platform for BlackRock, added: “As the Asian credit market evolves, we remain committed to delivering innovative liquidity and investment solutions that benefits our Investment and Aladdin clients around the world.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com