MTS launches first electronic trading platform for Cypriot government bonds
- Launch marks first designated electronic trading venue for Cypriot government bonds
- Seven primary dealers acting as liquidity providers for the platform
- Trading platform has gone live today, 18 November 2019
- MTS Cash offers trading across 21 Government Debt markets
London - MTS, part of London Stock Exchange Group, today announces that it has launched the first designated electronic trading platform for Euro-denominated Cypriot government bonds.
The addition of Cyprus to MTS’s interdealer market, MTS Cash, increases the number of countries on the market to 21. From 18 November 2019, primary dealers will be able to electronicially trade Cypriot debt on MTS Cash, which offers a liquid, transparent and efficient European bond marketplace with real-time pricing from its central limit order book. MTS has been operating electronic fixed income markets for 30 years, developing technological expertise in both government and corporate debt market operations
Seven primary dealers have signed up as liquidity providers for the platform including Barclays Bank, Citigroup Global Markets, Goldman Sachs International, HSBC France, JP Morgan, Morgan Stanley, Société Générale.
Phaedon Kalozois, Director of PDMO, Cyprus
“A thriving secondary market is vitally important for the health of Cypriot sovereign debt and will help us optimise our cost of funding in the long term. What impressed us most about MTS was the combination of decades of experience providing electronic bond trading platforms combined with a commitment to deliver state-of-the-art trading technology. This, together with the ability to engage with the wider LSE Group, makes MTS Cash the ideal host for Cypriot bonds.”
Maria Cannata, Chairman of MTS, said:
“MTS has been at the forefront of electronic bond trading for over 30 years. We’re excited to bring this considerable expertise to introducing further innovation into the Cypriot government bonds market. Adding Cyprus to our list of primary debt markets is an important part of our continued growth and geographic expansion.”
Fabrizio Testa, Chief Executive Officer at MTS, said:
We’re delighted to welcome Cypriot bonds into the group of dedicated order books available on the MTS Cash platform. MTS facilitates the trading of billions of Euros daily across European bond markets by a network of over 100 global dealers. Our trading infrastructure will now enable primary dealers on MTS to trade Cypriot government debt efficiently while benefiting from automated settlement. It will also provide Cyrpus’ debt management office with direct access to international investors and the deep liquidity of Europe’s secondary markets.
MTS Cash is a comprehensive and professional cash securities trading environment for the interdealer marketplace. Over 100 unique counterparties trade on the system each day and average daily turnover exceeds EUR 115 billion across MTS platforms. To find out more about Cypriot bonds on MTS Cash including a list of primary dealers for these instruments, please click here. A list of the markets now available to trade on MTS Cash is available here.
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For further information:
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Notes to editors:
MTS Group facilitates a number of regulated electronic fixed income trading platforms 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.
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 Italy Repo Segment is a regulated market operated by MTS S.p.A. under the supervision of the Italian Ministry of Treasury, Bank of Italy and Consob. The GCM Segment also allows trading in repo instruments and it is offered from both BondVision EU MTF and BondVision UK, respectively under the supervision of Consob and the FCA.
MTS BondVision is a trusted and efficient multi-dealer-to-client electronic bond trading platform, delivering exceptional access for institutional investors direct to dealers. BondVision provides institutional investors with real-time pricing and the ability to trade with the major dealers. It is available in Europe as a multi-lateral trading facility operated by MTS S.p.A under supervision of Consob. In the UK it is operated by EuroMTS under supervision of the Financial Conduct Authority. In the US it is operated by MTS Markets International which is a member firm of the Financial Industry Regulatory Authority, Inc. (FINRA) and the Securities Investor Protection Corp (SIPC).
MTS BondsPro is a trading platform that supports Corporate Bond trading. MTSBondsPro is an Alternative Trading System registered with the Securities and Exchange Commission (SEC) and operated by MTS Markets International Inc., which is a member firm of the Financial Industry Regulatory Authority, Inc. MTS Data is sourced directly and exclusively from the MTS markets 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. 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.
For more information, visit www.mtsmarkets.com.
About London Stock Exchange Group:
London Stock Exchange Group (LSEG) is a global financial markets infrastructure business. Its diversified global business focuses on Information Services, Risk and Balance Sheet Management and Capital Formation. The Group supports global financial stability and sustainable economic growth by enabling businesses and economies to fund innovation, manage risk and create jobs. The Group can trace its history back to 1698.
In Capital Markets, the Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (a European fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, unrivalled access to Europe’s capital markets.
In Information Services, through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with over $15 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of data services, research and analytics through The Yield Book, Mergent, SEDOL, UnaVista, XTF and RNS.
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 and 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.
LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,500 people.
Further information on London Stock Exchange Group can be found at www.lseg.com. The Group’s ticker symbol is LSE.L