MDX Technology today announced that MarketAxess, an operator of a leading electronic trading platform for fixed-income securities and a provider of market data and post-trade services, has gone live with the MDXT data distribution platform for secure, controlled distribution of market data and collection of axes.
The implementation followed MarketAxess’ requirement for a more flexible way to distribute data and connect to its Open Trading™ buy-side users’ systems. The MDXT platform provides users with a proven, easy-to-use solution that its customers can quickly implement and activate. “As fixed-income market structure has evolved in recent years, both clients and dealers need more efficient and cost effective ways of locating liquidity,” said Paul Watmough, CEO, MDX Technology. “The MDXT data distribution platform helps MarketAxess’ clients connect through common productivity tools like Excel, enhancing MarketAxess Open Trading™ with full end-to-end data distribution capabilities. MarketAxess users now have access to more data through a solution that is easy to install and is secure for subscribing to market data and publishing axes.”
By implementing the MDXT data distribution platform, MarketAxess participants can now easily subscribe to a range of data sets, including Axess All™ and Composite Price, with others to be added. These data sets are delivered in real time to their tool of choice, typically Microsoft Excel, in which they can perform their analytics. The solution also provides counterparties with the ability to conveniently post axes from the same familiar and secure environment to the MarketAxess trading system – all via the same MDXT platform.
Richard Schiffman, Head of Open Trading, MarketAxess, said, “MarketAxess has over 1,200 buy-side and dealer participants around the world and we’re always looking for new solutions to make their interactions with our system easier and more seamless. MDX provided us with an additional turnkey integration solution that augments our workstation and FIX APIs. The ability to consume our market data and interact with our trading platform directly from within Excel is a big productivity gain for traders.”