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MarketAxess Announces First Client Algo Trade Using Adaptive Auto-X™

Published: 2023-06-22 12:00:00 ET

Introduces Next Phase of Multi-Protocol Automated Execution Pilot with New Algo Strategies

NEW YORK--(BUSINESS WIRE)-- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced the first client algorithmic trade executed across multiple protocols using Adaptive Auto-X™, the Company’s multi-protocol automated execution solution currently in pilot. MarketAxess also announced the next phase of the pilot, which will introduce additional liquidity-seeking strategies depending on trader objective, urgency or pricing requirements.

MarketAxess launched the Adaptive Auto-X pilot earlier this year, building on the success of an established suite of automation protocols. Phase one of the pilot provided users with low-friction automation workflows to interact with passive liquidity across RFQ, order book and other matching protocols. Users can specify a protocol or use data-driven, smart-order-routing to maximize the potential liquidity sources leveraged across multiple MarketAxess trading protocols and liquidity pools. Adaptive Auto-X combines proprietary MarketAxess data and predictive AI-driven analytics to bring even more workflow efficiency to automatic trade execution.

In Q1 2023, the first pilot clients were able to place a resting order that simultaneously connected to multiple liquidity pools via MarketAxess’ first-of-its-kind algorithm: CP+™ Peg. Clients are able to control their algorithms by customizing sizing, visibility and pricing parameters in real-time.

“As the fixed income market becomes more complex and finding liquidity becomes more challenging, buy-side firms need to be armed with smart trading tools that can efficiently seek liquidity across a broad set of protocols while avoiding market impact,” commented Gareth Coltman, Head of Automation Product at MarketAxess.

“Adaptive Auto-X is an exciting leap forward in intelligent automation which can deliver greater alpha-generation opportunities for MarketAxess clients.”

Automated trading on MarketAxess has been used by more than 200 active clients since inception, amounting to over $750 billion in volume and over 4 million trades. Year to date, automation protocols represent nearly 10% of total trading volume on MarketAxess.

Attendees of the 2023 Fixed Income Leaders Summit will get a first look at phase two features and functionality of Adaptive Auto-X today.

For more information on Adaptive Auto-X, visit: https://www.marketaxess.com/trade/auto-execution

About MarketAxess

MarketAxess (Nasdaq: MKTX) operates a leading electronic trading platform that delivers greater trading efficiency, a diversified pool of liquidity and significant cost savings to institutional investors and broker-dealers across the global fixed-income markets. Over 2,000 firms leverage MarketAxess’ patented technology to efficiently trade fixed-income securities. MarketAxess’ award-winning Open Trading® marketplace is widely regarded as the preferred all-to-all trading solution in the global credit markets. Founded in 2000, MarketAxess connects a robust network of market participants through an advanced full trading lifecycle solution that includes automated trading solutions, intelligent data and index products and a range of post-trade services. Learn more at www.marketaxess.com and on Twitter @MarketAxess.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230622598172/en/

INVESTOR RELATIONS Stephen DavidsonMarketAxess Holdings Inc. +1 212 813 6313 sdavidson2@marketaxess.com

MEDIA RELATIONS Marisha MistryMarketAxess Holdings Inc. +1 917 267 1232 mmistry@marketaxess.com

Source: MarketAxess Holdings Inc.

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.