MarketAxess Holdings Inc., an operator of a leading electronic trading platform for fixed-income securities, has announced multiple enhancements to its dealer-initiated protocols, including the introduction of Mid-X for US Credit.
The firm’s Mid-X protocol, an anonymous mid-point matching session, was previously launched for emerging markets and eurobonds. Volumes from Mid-X matching sessions in emerging markets and eurobonds increased by 70% in the second quarter of 2025 compared to the second quarter of 2024. These sessions leverage CP+, an AI-powered real-time predictive pricing engine for Global Credit and Rates markets, and will now feature a new one-step submit and trade protocol.
Steve Tait, Head of US Dealer Execution Business at MarketAxess, stated that the current market environment necessitates easier access to liquidity, increased workflow efficiency, and improved tools for dealers to manage risk generated by increased portfolio trading. Tait added that by providing dealers with support, tools, and technology comparable to what they receive from sales desks and inter-dealer brokers, MarketAxess aims to foster a more inclusive trading environment, encouraging dealers to engage with its expanding suite of protocols and enhancements.
MarketAxess (Nasdaq: MKTX) operates an electronic trading platform designed to enhance trading efficiency, diversify liquidity, and generate cost savings for institutional investors and broker-dealers across global fixed-income markets. Approximately 2,100 firms utilize MarketAxess’ technology for trading fixed-income securities. The company’s automated and algorithmic trading solutions, alongside integrated data offerings, support clients in making informed trading decisions. MarketAxess’ Open Trading® marketplace is recognized as an all-to-all trading solution in global credit markets. Established in 2000, MarketAxess provides a comprehensive trading lifecycle solution, encompassing automated trading, intelligent data, index products, and post-trade services.
