Refinitiv and MarketAxess have agreed to redistribute MarketAxess fixed income market data to Refinitiv’s customers via the Elektron Data Platform. The data made available through Refinitiv as a part of the agreement includes MarketAxess’ Composite+ and Axess All pricing tools.
Composite+ is an algorithmic pricing engine for corporate bonds that leverages a range of proprietary and industry data sources, with updates up to every 15 seconds on over 24,000 bonds. It combines public data from the FINRA Trade Reporting and Compliance Engine (TRACE) with proprietary data from the MarketAxess trading platform and Trax.
Axess All is an intra-day trade tape for the Europe fixed income markets. Sourced daily from over 30,000 bond transactions and powered by Trax post-trade services, Axess All displays aggregated volume and pricing for the most actively traded European fixed income instruments, providing some of the most robust European fixed income trade data available.
Brennan Carley, managing director for Enterprise at Refinitiv, says the addition of MarketAxess data to the Elektron Data Platform expands fixed income data choice for customers at a time when increasing electronification of the bond market and regulatory pressure to demonstrate best execution mean fixed income traders and investors need more data to power smarter trading engines, find an investment edge, and meet reporting obligations.
Chris Concannon, president and chief operating officer at MarketAxess concurs, noting the critical need for real-time, enhanced market data throughout the fixed income trading workflow. He comments: “Data based on liquidity and transactions will benefit the entire investment process and support better management of liquidity risk and portfolio execution performance.”