MTS BondsPro bridges global markets with launch of 22-hour trading day
- Credit trading platform links markets across US, Europe and Asia
- Expands availability of real-time execution for traders, helping to enhance market liquidity
- Leading global bank is first firm to utilize extended trading hours
- Launch underpins record bond trading volume in US last year
MTS Markets, part of London Stock Exchange Group (LSEG), has extended the trading day to 22 hours, six days a week, on its BondsPro platform for corporate bonds and emerging market debt. Traders can now access liquidity and real-time execution on MTS BondsPro's anonymous, all-to-all order book from 7pm ET until 5pm ET the following day, bridging market hours across Asia, Europe and the US.
As a truly global organization, the move is part of MTS's strategy to connect markets and address client needs by helping to promote cross-border corporate bond trading activity. MTS currently connects a network of over 1,000 unique buy- and sell-side counterparties across 30 countries on its platforms. The extended trading hours complement the platform's all-to-all model, enhancing liquidity by maximizing trading opportunities and market access for all participants.
David Parker, Head of US Sales at MTS Markets, said: "We take our role in helping to enhance market liquidity and maximizing trading opportunities for clients seriously. MTS BondsPro achieved record volume growth in 2017, and a contributing factor to the increase was our ongoing effort to make the market accessible to as many buy- and sell-side participants as possible. Extending trading hours to maintain a global market around-the-clock will further support this growth and we're pleased that a leading global bank is now the first institution to utilize 22-hour trading."
Brad Bailey, Research Director, Capital Markets, Celent, a division of Oliver Wyman, said: "2018 is shaping up to be one of the most interesting years in fixed income trading in recent memory, as traders grapple with access to liquidity, regulatory changes like the implementation of MiFID II, a renewed focus by the SEC on fixed income market structure, all as a backdrop to potentially volatile rate and credit environment. These forces are shifting behaviors on fixed income platforms like MTS BondsPro, driving the demand for a holistic view of major markets and pricing around the clock in major time zones."
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Notes to editors:
MTS Group facilitates a number of regulated electronic fixed income markets across Europe and the US that are managed centrally to ensure optimum levels of global harmonisation and consistency. Over 500 unique counterparties trade an average volume of €100 billion each day on these platforms.
The individual companies within the MTS Group are regulated by financial services regulators in a number of European jurisdictions, including Financial Conduct Authority (FCA), Italian Ministry of Finance, Banca d’Italia and Consob, Autorité des Marchés Financiers (AMF). In the United States MTS Markets International Inc. is a member of FINRA and operates MTS BondsPro which is an ATS registered with the SEC.
MTS Cash is a comprehensive and professional cash securities trading environment for the interdealer marketplace. MTS cash includes several domestic markets regulated in different jurisdictions enabling primary dealers to access unparalleled liquidity, transparency and coverage. MTS Repo provides an order-driven market for the electronic transaction of repo agreements and buy/sellbacks in Italy.
MTS BondVision is a trusted and efficient multi-dealer-to-client electronic bond trading platform, delivering exceptional access for institutional investors direct to market makers. MTS BondVision is accessible in Europe from the Italian and the UK legal entities and in the US through the US legal entity of MTS Group (MTS Markets International Inc.). On the BondVision platform, MTS Group provides institutional investors with real-time pricing and the ability to trade with the major dealers.
MTS Credit provides a variety of electronic execution methods for a wide range of multi-currency non-government bonds, including covered, SSA, corporate and financial bonds. MTS Credit is composed of financial instruments available to trade on both BondVision and MTS Prime.
MTS Data is sourced directly and exclusively from the MTS interdealer market and includes benchmark real-time data, reference data, reference prices and historical data, providing the benchmark data source on the fixed income market.
FTSE MTS Indices are operated by FTSE TMX Global Debt Capital Markets, in which MTS has a minority stake. They provide independent, transparent, real-time and tradable Eurozone fixed income indices, based on tradable prices from MTS. FTSE MTS indices are tracked by (and can be traded via) around 40 ETFs in addition to numerous structured products.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.
Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $15 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of data services, research and analytics through Mergent, SEDOL, UnaVista, XTF, RNS and The Yield Book.
Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business.
LSEG Technology develops and operates high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity and hosting.
Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,000 people.
Further information on London Stock Exchange Group can be found at www.lseg.com.