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MarketAxess announces record emerging market trading volumes in 2015

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Fixed-income electronic trading platform MarketAxess saw record global Emerging Market (EM) trading volumes of USD146 billion during 2015, a 30 per cent increase in trading volumes compared to the previous year.  

MarketAxess further expanded its group of global liquidity providers for EM trading during 2015, and added to its breadth of currencies available on the platform. Local market debt trading was the fastest growing product on MarketAxess during 2015, up 208 per cent compared to 2014.  
  
Kevin McPherson, Global Head of Sales at MarketAxess, says: "We're in a new phase of uncertainty for emerging market fixed-income. Trends in volatility and correlations are rapidly changing, influenced by oil prices, China's growth prospects, divergences in monetary policy and a host of other factors. Taking advantage of the shifts in emerging markets requires ready access to truly global liquidity. MarketAxess seamlessly connects global dealers and investors on a centralised network, and help them efficiently source fixed income liquidity across a broad universe of currencies."  
  
EM trading volumes on MarketAxess from European clients increased 44 per cent during 2015. The addition of nine dealers in the region greatly expanded liquidity in local market debt trading. In addition, a number of existing dealers expanded their product coverage for local currencies, most recently with the addition of Societe Generale as a liquidity provider for Russian Ruble (RUB) and Hungarian Forint (HUF). This is on top of the banks' existing product range which includes Polish Zloty (PLN) and Mexican Peso (MXN).  
  
Boris Bruck, Local Markets CEEMEA Head of Trading at Societe Generale, says: "MarketAxess has an extensive global offering for Emerging Market local and hard currency electronic trading. We are very pleased to expand our product coverage on the platform with more European local currencies, a recognized strength of the Societe Generale EM platform. In 2016, we look forward to expanding our local currencies offering on MarketAxess."  
  
In Latin America, five dealers joined MarketAxess in 2015 to provide liquidity in Latin American local market debt trading. Trading volumes on MarketAxess in Latin American corporate bonds increased 11 per cent compared to a year ago despite a 4 per cent decline in market volumes, according to TRACE data.  
  
In addition to our recent expansion in Asia, liquidity providers in Asia are increasingly providing liquidity in-region with approximately 20 per cent of Asian bond trading taking place during Asian trading hours. Ease of local market access continues to be a key driver in supporting electronic trading on MarketAxess in the region.    
 
Today, MarketAxess offers global 24-hour electronic debt trading for three major EM regions – Europe, Asia and Latin America. The MarketAxess trading system connects institutional investors to over 50 global EM liquidity providers for access to trade corporate and sovereign debt denominated in over 22 local market currencies.

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