MarketAxess Holdings Inc., a prominent electronic trading platform for fixed-income securities, and DirectBooks, a capital markets platform, have announced an agreement to integrate their services, offering mutual clients enhanced access to primary issuance information and workflow tools within the MarketAxess interface.
This collaboration aims to improve workflow efficiency and access for buy-side traders by allowing them to manage their primary processes directly through a dedicated interface on MarketAxess. The integration will enable MarketAxess clients to review DirectBooks deal announcements, submit indications of interest, and receive allocation messages from syndicate desks, which is expected to increase speed, accuracy, and transparency throughout the deal lifecycle.
Rich Kerschner, Chief Executive Officer of DirectBooks, commented on the partnership, stating that DirectBooks is “delighted to welcome MarketAxess as our newest connectivity partner.” He emphasized DirectBooks’ commitment to enhancing efficiency across primary markets and noted that integrating with MarketAxess was a “natural choice given their scale, technology leadership, and deep client network in global fixed income.”
Chris Concannon, Chief Executive Officer of MarketAxess, expressed enthusiasm for addressing client workflow and data challenges across the corporate bond lifecycle. He highlighted that the integration delivers “high quality structured data and connectivity” to clients, along with “streamlined access to the primary issuance process.”
The integrated solution is scheduled to become available to mutual clients in the second quarter.
MarketAxess operates a leading electronic trading platform that provides greater trading efficiency, a diversified pool of liquidity, and cost savings for institutional investors and broker-dealers in the global fixed-income markets. Approximately 2,100 firms utilize MarketAxess’ technology for trading fixed-income securities, with its Open Trading® marketplace recognized as a preferred all-to-all trading solution.
DirectBooks specializes in optimizing global financing markets by leveraging technology and market knowledge. The platform simplifies the primary issuance process for fixed income through streamlined communication workflows for underwriters and institutional investors. DirectBooks is owned by a consortium of major financial institutions, including Bank of America, Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, J.
P. Morgan, Morgan Stanley, Mizuho, Royal Bank of Canada, and Wells Fargo.
