MarketAxess Holdings Inc, an operator of an electronic trading platform for fixed-income securities, said on Tuesday that it had enhanced its Open Trading solution for local currency bonds.
The first tranche of local currency markets, which will now be supported, include Poland, Czech Republic, Hungary and South Africa.
The launch of Open Trading for emerging market local currency bonds complements MarketAxess’ end-to-end global EM offering. Local onshore dealers will be connected with a network of international buyside customers, which will substantially deepen the available liquidity pool.
Dealers and clients will now be able to trade PLN, CZK, HUF and ZAR denominated bonds on an all-to-all basis, MarketAxess Holdings said.
“As a global leader in Emerging Markets debt trading, expanding Open Trading across our 28 local markets is something our clients around the world have been asking us for,” Christophe Roupie, Head of EMEA and APAC at MarketAxess, said in a press release.
“Expanding Open Trading in these four new local markets is only the first step, and we hope to expand the model further to more local currencies in the first half of next year,” Roupie added.