MTS BondsPro launches European denominated corporate bond trading

  • All-to-all trading platform offers liquidity on over 9,000 non-USD CUSIPS
  • One global liquidity pool for both USD and non-USD corporate bonds
  • Corporate move with EuroTLX, a LSEG electronic fixed income MTF

MTS Markets International, Inc. (“MTS”), part of London Stock Exchange Group (“LSEG”), today announced the launch of non-US denominated corporate bond trading for US, UK and Swiss participants on MTS BondsPro, its live all-to-all trading platform for US corporate and emerging market debt.

The BondsPro platform now offers liquidity on over 9,000 non-USD CUSIPS and gives participants access to one liquidity pool for both USD and non-USD corporate bonds, including GBP, EUR, AUD, CAD, HKD, NOK, NZD and SEK denominations. In addition, EuroTLX – the electronic European retail-size fixed income MTF of LSEG - and MTS will jointly evaluate the feasibility of EuroTLX satisfying the growing customer demand in the US. These moves are part of a wider LSEG strategy to address shortfalls in the credit markets by promoting cross-border trading and firm liquidity.

Participants will benefit from BondsPro web-based HTML 5 technology, which enables login directly via a web browser, and can also access the liquidity pool via FIX 4.4 or through most order management systems.

Mark Monahan, CEO of MTS Markets International, said:“The addition of non-USD corporate bonds to our MTS BondsPro platform is in response to customer demand. By giving customers access to a single global liquidity pool for bonds issued by companies both in the US and elsewhere, we are facilitating cross-border flows and widening the network of bonds available. More specifically, there is strong demand for EuroTLX liquidity in the US and we look forward to working together with EuroTLX to ascertain how our broker dealer can assist this prestigious LSEG platform in 2016.”

Pietro Poletto, CEO of EuroTLX, commented:“The EuroTLX MTF offers the possibility of trading a wide range of fixed income instruments electronically with a high level of transparency on prices and on pre- and post-trade information. We are excited to explore the US market jointly cooperating with the regulated broker dealer MTS Markets International.”

Kevin McPartland, Head of Research, Market Structure and Technology, Greenwich Associates, added:“With bond market liquidity still top of mind for global investors, seamlessly gaining access to foreign issues offers additional methods of expressing credit market views.  From our perspective, pursuing this market segment certainly makes strategic sense.” 

MTS acquired the platform in May 2014, now called MTS BondsPro, to expand its credit offering for US clients. Through its all-to-all institutional order book, the platform facilitates access to a diverse network of over 600 buy- and sell-side institutions in the UK, US and Switzerland.

About MTS:

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, Consob, Autorité des Marchés Financiers (AMF), and in the United States by FINRA and 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. Agency Cash Management (ACM) is a UK-regulated electronic auction platform that uses the MTS Repo technology to enable cash-rich investors to enter into secured money market investments via the tri-party repo mechanism.

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. 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 Swaps leverages existing MTS Group distribution technology to deliver immediate access to a diverse range of liquidity providers through your chosen prime banks.

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.