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MarketAxess offers broader execution choices for muni bond market participants

First Published 21st September 2016

MarketAxess expands execution choices for its municipal bond platform to include Muni Offerings.

New York - Muni Offerings allows municipal bond market participants to post and engage on inquiries using MarketAxess' Axe pages. Single Request-for-Quote (RFQ) inquiry for both investors and dealers is also now available to users.

These enhancements complement existing trading protocols - including Bid Wanted lists of up to 200 items, Open Trading and dealer inventory. The platform aims to provide municipal bond market participants with more competitive markets and a more efficient way to execute block and odd lots, all in one single marketplace.

"Recent growth in the municipal bond market to more than $3.6 trillion underscores the need among market participants for broader access to liquidity, better price discovery and increased transparency in an easy to access platform," said John Gallagher, Municipal Bond and Investment Grade Credit Product Manager.

Key features of the expanded municipal bond platform include:

• Enhanced List Features & Preferences: Ability to copy/paste items into a bid or offer list, now including customizable limit levels for bids.

• New Historical Activity Page: Allows users to source historical price and trade activity inquiries with a 1 month to 1 years search range.

• Trade a Single Muni: Ability to send single client-to-dealer quote inquiry.

• Request for Quote (RFQ): Allows market participants the ability to initiate RFQs in an Open Trading™ environment.