Banque de Luxembourg taps MarketAxess for trading solution
28 September 2020 New York
Image: putilov_denis/Adobe.com
MarketAxess, the trading platform and post-trade services provider for global fixed income markets, has inked a deal to provide its order and execution workflow solution, Axess IQ, to Banque de Luxembourg, a private banking and wealth management group.
Since Axess IQ launched in November 2019, MarketAxess has imbued it with “further enhancements”, including the integration of Auto-X, the automated trading solution, and Composite+, an artificial intelligence-powered pricing engine, into its workflow.
Axess IQ users also gain access to a global network of more than 1,700 active institutional investor and dealer firms via the all-to-all Open Trading marketplace, which MarketAxess said creates “a better execution experience through a diverse pool of additional liquidity for private banks”.
On average, Open Trading had 32,000 orders and more than $18 billion in notional value available per day for trading during Q2.
Overall, Q2 automated trading volumes on the MarketAxess platform increased to more than $32 billion, up 66 percent from the year prior, the firm said.
“The efficient, low-touch automated execution tools offered by MarketAxess allows firms to quickly complete orders, supported with the confidence of industry-leading market data from the AI-powered Composite+ pricing engine,” MarketAxess stated.
Pierre Stoll, head of fixed income and structured products with Banque de Luxembourg, commented: “Today’s market requires cutting-edge technology, access to the broadest possible network of liquidity and integrating high-quality market data directly into our workflow.
“We believe we are able to offer our clients a superior service through this combination and feel Axess IQ can help us exceed client expectations.”
Since Axess IQ launched in November 2019, MarketAxess has imbued it with “further enhancements”, including the integration of Auto-X, the automated trading solution, and Composite+, an artificial intelligence-powered pricing engine, into its workflow.
Axess IQ users also gain access to a global network of more than 1,700 active institutional investor and dealer firms via the all-to-all Open Trading marketplace, which MarketAxess said creates “a better execution experience through a diverse pool of additional liquidity for private banks”.
On average, Open Trading had 32,000 orders and more than $18 billion in notional value available per day for trading during Q2.
Overall, Q2 automated trading volumes on the MarketAxess platform increased to more than $32 billion, up 66 percent from the year prior, the firm said.
“The efficient, low-touch automated execution tools offered by MarketAxess allows firms to quickly complete orders, supported with the confidence of industry-leading market data from the AI-powered Composite+ pricing engine,” MarketAxess stated.
Pierre Stoll, head of fixed income and structured products with Banque de Luxembourg, commented: “Today’s market requires cutting-edge technology, access to the broadest possible network of liquidity and integrating high-quality market data directly into our workflow.
“We believe we are able to offer our clients a superior service through this combination and feel Axess IQ can help us exceed client expectations.”
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