MarketAxess, an operator of a leading electronic trading platform for fixed-income securities, recently introduced its fully electronic trading solution for Indian Government Bonds (IGBs). This platform is specifically designed to cater to Foreign Portfolio Investors (FPIs) and market makers. The inaugural transaction on this new solution was successfully completed between BlackRock and Standard Chartered.

Jatin Vara, Head of International Trading at BlackRock, commented on the development, stating that increased access to India’s onshore bond market enhances efficiency and scalability for investors. Vara noted India’s compelling opportunities for foreign investors, particularly in its expanding onshore bond market, where continued inclusion in major global indices is fostering significant investor interest.

Riad Chowdhury, Head of Asia-Pacific at MarketAxess, remarked on the completion of the initial trade, emphasizing that the Indian solution was developed to address the specific requirements of institutional investors and dealers. Chowdhury indicated anticipation for broader client adoption in the coming months. MarketAxess, founded in 2000, provides trading efficiency, liquidity, and cost savings to approximately 2,100 firms globally, leveraging patented technology and integrated data offerings.