MTS announces plans to launch pan-European corporate bond market
MTS, Europe’s premier facilitator for the electronic fixed income market, today announces that it plans to launch a Pan-European corporate bond platform for the wholesale market in response to specifications issued by the Cassiopeia Committee.
The Cassiopeia Committee was established in early 2010 to implement recommendations for the introduction of corporate bond platforms in Europe. MTS’s proposal is in response to specifications put forward by the committee on 26 April 2010.
MTS’s proposed market would be open for the listing and trading of Euro-denominated debt instruments and would operate on an electronic order-driven model. It would be managed by the EuroMTS Multilateral Trading Facility (MTF), and use MTS’s high capacity, low latency, Cash Market Facility (CMF) technology. CMF technology also already offers Straight-Through-Processing (STP) to Europe’s major clearing houses and central securities depositories.
Jack Jeffery, Chief Executive at MTS, said:
“MTS has been operating the continent’s largest and most liquid pan-European electronic fixed income market for over 20 years. With this experience, and our extensive existing international client base, we are very well placed to provide a corporate bond platform serving Europe’s financial community.
“We have an ongoing dialogue with our customers, and will be working closely with them to assess our proposed platform. This will ensure the platform is built on a suitable model, capable of attracting good levels of liquidity.”
MTS currently operates Europe’s largest electronic market for the trading of government debt securities, issued by 14 separate countries. It has over 500 unique counterparties and sees an average daily turnover of €85 billion.
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Jonny Blostone Luca GRASSIS
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Simona COTTA RAMUSINO
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Notes to Editors:
About MTS Group
MTS is Europe’s premier facilitator for the electronic fixed income trading market, with over 500 unique counterparties and average daily turnover exceeding EUR 85 billion. MTS customers benefit from its relationship with Europe’s leading diversified exchange business, the London Stock Exchange Group, which operates the largest and most liquid equity marketplace in Europe.
MTS markets provide the professional trading environment for the interdealer marketplace, enabling primary dealers from across the globe to access unparalleled liquidity, transparency and coverage.
MTS further facilitates the dealer-to-client bond market through BondVision, the most trusted and efficient electronic bond trading market, delivering exceptional access for institutional investors direct to the market makers.
MTS Data is sourced directly and exclusively from the MTS interdealer market and includes benchmark real-time data, reference data, reference prices, time series data and snap- shot data, providing the benchmark data source on the fixed income market.
MTS Indices provide the first independent, transparent, real-time and tradable Eurozone fixed income indices, based on tradable prices from MTS. MTS indices are tracked by (and can be traded via) more than 28 ETFs in addition to numerous structured products.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.