Innovative New Corporate Bond Trading through API on MTS Bonds.com Platform

  • Action marks unprecedented step in electronic fixed income trading
  • MTS Bonds.com buy-side clients now directly posting real-time firm pricing 

MTS Markets International, Inc., a London Stock Exchange Group (“LSEG”) company, today announces the first liquidity provisioned trades by buy-side institutions via its newly enhanced API (application program interface) on its live all-to-all trading platform, MTS Bonds.com. While hundreds of sell-side clients routinely engage the MTS Bonds.com platform through their GUI and/or direct API trading, this significant move by the buy-side reflects a behavioral shift as the reduction in dealer inventory has led to some larger asset managers looking to make markets on corporate bonds.

The FIX 4.4 API interface allows the MTS Bonds.com platform to deliver direct trade execution against its all-to-all central limit order book, liquidity contributions, integrated post-trade functionalities and real-time streaming price updates. This now offers buy-side users an expansive view to make better decisions on creating orders and/or executing trades as well as to integrate seamlessly into existing OMS/EMS providers or internal proprietary system using industry standard FIX 4.4 protocol. The first API trade resulting from a price generated by a buy-side institution took place last month.

Mark Monahan, CEO of MTS Markets International, said: “Our goal is to service both the sell-side and the buy-side.  Seamless price making and processing by the buy-side has now become an important part of this environment, and innovations such as our API launch reflect the importance of rapidly responding to marketplace demands. We are delighted that key fixed income asset managers have already taken advantage of this opportunity, and we expect more to follow in the upcoming weeks.”

MTS acquired the Bonds.com platform in May to expand its offering for its US clients. The platform provides clients access to over 600 buy- and sell-side institutions.

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For further information:

Media 
Mark Benhard +1 212-314-1199                                                                                              
Ed Clark         + 44 (0)20 7797 1222                                                         
newsroom@lseg.com

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 turnover exceeding EUR 100 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.

For more information, visit www.mtsmarkets.com.

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.

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 the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.

Post trade and risk management services are a significant and growing part of the Group’s business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.

The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS. FTSE calculates thousands of unique indices that measure and benchmark markets and asset classes in more than 80 countries around the world.

London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 40 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology.

Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.

Further information on London Stock Exchange Group can be found at www.lseg.com.