Fixed income trading software provider AxeTrading has bolstered its execution management system (EMS) with workflow and liquidity from UBS Bond Port.
Buy-side, sell-side and agency broker users of AxeTrader EMS will gain access to $30 billion of daily global liquidity in credit, rates and emerging market bonds.
Clients will be able to distribute prices to the UBS Bond Port network on an anonymous basis, with liquidity in more than 40,000 ISINs in 19 currencies.
UBS Bond Port is the Swiss investment bank’s electronic execution credit smart order router.
“Building on our 35% year-on-year volume growth, we are delighted to welcome AxeTrader clients to the expanding UBS Bond Port platform,” said Nico Masso, global co-head of credit execution at UBS Bond Port. “Our object is to ensure our clients can trade credit across multiple channels and have the optimum connectivity options to access the deepest liquidity.”
The connection to the AxeTrader EMS is also the latest step in UBS Bond Port’s order and execution management system strategy, according to the bank’s product manager, Mark Eardley. He added that the partnership increases the firm’s options in expanding its client base and adds significantly flow and depth of liquidity for those using the platform.
In September, AxeTrading was appointed technology partner for the bond market in Indonesia via a deal with the Indonesia Stock Exchange. AxeTrading will provide the technology to be used on a newly-developed platform, after the exchange received approval to operate as an alternative trading market operator.
“By connecting AxeTrader to UBS Bond Port our clients will benefit from the broadest access to an established and proven truly global fixed income order book that goes far beyond other matching tools. This offers them aggregated firm liquidity backed by the market strength of UBS as the trading counterparty,” Mark Watters, CCO and co-founder of AxeTrading, concluded.