MarketAxess to acquire multi-asset algorithmic trading provider Pragma
Transaction is expected to close in the fourth quarter; follows first client algorithmic trade in US credit on multi-protocol automated execution solution Adaptive Auto-X.
Transaction is expected to close in the fourth quarter; follows first client algorithmic trade in US credit on multi-protocol automated execution solution Adaptive Auto-X.
Move comes as part of MarketAxess’ continued push towards zero touch trading; next phase of the Adaptive Auto-X pilot has also been announced, which will provide increased liquidity-seeking strategies.
Head of EMEA and APAC and chief executive UK at MarketAxess Christophe Roupie sits down with The TRADE to explore fixed income sentiment and the role the market backdrop is playing in its evolution.
The move comes two weeks after MarketAxess confirmed its JV with Bloomberg and Tradeweb to become the fixed income consolidated tape provider in the EU.
The three venues confirmed plans to apply to become the tape provider in June last year via a public procurement process organised by ESMA; have selected FINBOURNE as their infrastructure provider.
New head brings considerable experience in data services to the firm, having previously served at ICE and Bloomberg.
New chief executive officer has been with the firm since 2019, having previously served at Cboe, Nasdaq, Virtu Financial, Instinet.
The electronic trading platform recorded strong numbers for the last quarter, driven by growth in public and private debt trading.
The new integration, which includes a request for quote feature, will allow mutual dealer clients to respond to US Treasury inquiries from MarketAxess’ customer base.
Incoming head brings over 25 years’ experience to the firm, having previously served at MarketAxess, LiquidityEdge and ICAP.