MarketAxess Holdings Inc. (Nasdaq: MKTX), a prominent operator of an electronic trading platform for fixed-income securities, has launched the first fully electronic trading solution specifically for Indian Government Bonds (IGBs) designed for Foreign Portfolio Investors (FPIs).
This new solution enables international investors to trade IGBs electronically, adding to the 29 other local currency bond markets already accessible via the MarketAxess trading platform. The initiative aims to enhance the trading experience for both FPIs and market makers across the entire trade lifecycle.
Riad Chowdhury, Head of Asia-Pacific at MarketAxess, stated that the platform is the first to offer this trading capability to international investors. He added, “By integrating directly with the NDS-OM system operated by the Clearing Corporation of India Limited, our solution is designed to increase efficiency across the entire trading workflow, from pre-trade allocation to post-trade reporting.” Chowdhury further noted the positioning of global emerging markets for increased innovation and international investment, citing India’s recent inclusion in notable global Emerging Markets indices, and expressed enthusiasm for supporting these trends with the new launch.
In 2024, MarketAxess’s Emerging Markets business reported annual trading volumes approaching $860 billion. The company has also received recognition as the ‘Best Secondary Market Trading Platform for Emerging Market Bonds’ from GlobalCapital for two consecutive years.
