MarketAxess Extends Its EM Local Markets Offering into Egypt, Hong Kong and Serbia

MarketAxess Holdings Inc. (MarketAxess), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, announced yesterday the extension of its Emerging Markets (EM) offering to Egypt (EGP), Hong Kong (HKD) and Serbia (RSD).

MarketAxess elaborated that its local currency trading, which now also includes onshore Chinese debt (CNY), rose 20% YoY to more than $147 billion in the Q3 2021. The number of active participants trading Emerging Markets debt across the MarketAxess platform hit a record of over 1,300 firms.

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 “Investors are increasing their exposure to emerging markets, including frontier markets, in the face of increased demand for yield, broader index inclusion and easing of pandemic-linked monetary policy. Our volume growth through the first three quarters of this year is testament to that, and to the success of the unique all-to-all EM trading ecosystem that we have built to support them,” said Kevin McPherson, Global Head of Sales at MarketAxess.

In addition, MarketAxess has extended its commitment to emerging markets communities through a partnership with EMpower, a charitable foundation whose work is dedicated to helping marginalized young people in emerging market countries to transform their lives.