MTS confirms details of new pan-European wholesale corporate bond market

MTS confirms details of new pan-European wholesale corporate bond market

  • Platform to be called MTS Credit
  • Uses BondVision distribution technology
  • Market will operate as an MTF
  • Over 2,400 securities to be available for trading at launch
  • Details confirmed of client functionality

MTS, Europe’s premier facilitator for the electronic fixed income market, today announced details of its new electronic market for Euro-denominated non-government debt, which is being developed in response to proposals issued by the Cassiopeia Committee.

The new platform, which is expected to be launched before the end of 2011, will be called MTS Credit and will operate as a registered pan-European multilateral trading facility (MTF). It will offer trading in more than 2,400 investment grade, Euro-denominated corporate, financial and covered bonds. Participants will access the market via MTS’s existing BondVision technology.

Jack Jeffery, Chief Executive of MTS, said:

“From discussions with our clients, it is clear that increased issuance, market volatility and uncertain liquidity have changed the landscape for non-government bond trading in recent years. In response to specifications put forward by the Cassiopeia Committee, and working closely with the investment community, we are responding to a specific need for an electronic trading venue which offers efficient access to liquidity and price transparency.”

Using MTS’s existing BondVision distribution technology, MTS Credit will give investors immediate access to a diverse range of liquidity providers from launch, and will allow them to optimise their trading strategies and meet compliance and risk requirements.

The platform will offer a choice of execution options to support a range of trading strategies, including:

  • An All-to-All order book (FSA regulated MTF): clients post and execute orders directly in an all-to-all order-driven market.
  • Request For Quote/Stream: clients send outright, switch, butterfly and multi-leg (up to 20 orders at the same time) enquiries to up to 5 dealers
  • Executable Orders: clients ‘click-to-trade’ on privileged, executable quotes provided by dealers

Jacques de Lézardière, Credit Manager at MTS, said: 

“Having a choice of execution methods on MTS Credit is very important in this constantly evolving market. With the launch of this platform, MTS Credit will bring efficiency and liquidity to the European non-government bond market, benefitting participants across the board.”  


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Notes to Editors:

About MTS:

MTS is Europe’s premier facilitator for the electronic fixed income trading market, with over 500 unique counterparties and average daily volumes exceeding EUR 90 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. 

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 1,500 people.

Further information on London Stock Exchange Group can be found at