TT bolsters fixed income franchise with AxeTrading takeover
Summary
The acquisition helps broaden TT’s multi-asset capabilities, expanding its coverage to corporate, government, municipal and emerging market bonds as well as over-the-counter (OTC) interest rate swaps. AxeTrading provides market participants including banks, broker-dealers and buy-side firms with comprehensive details of fixed income liquidity such as axes, runs and quotes – sourced across electronic venues, messaging platforms and voice channels. For more than a decade, AxeTrading has provided connectivity to all major fixed income trading venues powered by its customizable pricing and quote management engine. The platform also employs automated workflow management tools, helping market participants overcome the complexity of pricing, quoting and trading fixed income products across multiple venues and protocols. The combination of AxeTrading’s leading expertise in fixed income markets technology, together with TT’s already established position in listed derivatives and U.S. Treasuries, will provide a comprehensive offering to customers globally.