MarketAxess expands pricing engine to hide municipal bonds

MarketAxess’ AI-powered, algorithmic pricing engine for world credit score and charges markets, CP+, will now duvet municipal bonds.

By means of leveraging proprietary knowledge from the MarketAxess buying and selling platform, TraX marketplace knowledge, and public resources akin to TRACE, CP+ claims to move past conventional fastened source of revenue pricing resources to ship price around the funding lifecycle.

Throughout the enlargement of protection, MarketAxess shoppers buying and selling munis will take pleasure in correct and independent reference pricing for the MSRB-reportable municipal bond marketplace.

“We’re excited to peer the adaptation the creation of real-time, AI-powered algorithmic pricing could make to a traditionally fragmented marketplace like municipal bonds,” stated Julien Alexandre, world head of analysis at MarketAxess.

“Our award-winning fashions excel at extracting pricing alerts from more than one knowledge resources, which is an important in munis the place buying and selling is understood to be sporadic.”

To begin with presented in 2017, CP+ is a knowledge enter and pricing supply for more than one MarketAxess buying and selling protocols and answers, together with Auto-X and portfolio buying and selling.

“The muni market has observed notable e-trading enlargement lately, and we imagine inventions like CP+ with real-time, actionable knowledge for [roughly] 930,000 municipal bonds is not going to handiest building up transparency and potency, but in addition the rate of adoption for digital buying and selling,” stated Daniel Kelly, head of municipal securities at MarketAxess.