MarketAxess announced it’s received approval from the Dutch regulator, the AFM, to operate a Multilateral Trading Facility (MTF) and act as a Data Reporting Service Provider (DRSP) in the Netherlands. MarketAxess is the operator of a global electronic trading platform for fixed-income securities and provider of market data and post-trade services.
The services to EU clients will be provided by new subsidiaries located in Amsterdam: MarketAxess NL B.V. for the MTF; and Trax NL B.V. for the post-trade data reporting, acting as a provider of both Approved Publication Arrangement (APA) and Approved Reporting Mechanism (ARM) services. The MTF approval includes permissions for MarketAxess to provide its all-to-all execution service to clients in the EU, giving those clients ready access to an existing broad pool of cross-border liquidity.
The AFM’s approval, alongside MarketAxess’s existing FCA regulatory permissions to provide MTF and DRSP services to UK customers, ensures that MarketAxess is able to provide UK and EU clients with compliant, uninterrupted service and access to liquidity post-Brexit. The firm expects the same range of dealers and liquidity will be available on the EU MTF when compared to the UK MTF.