Banque de Luxembourg goes live with Axess IQ workflow tool from MarketAxess

Axess IQ clients have access to a network of more than 1,700 active institutional investor and dealer firms via the all-to-all MarketAxess Open Trading marketplace.

Private bank and wealth management group Banque de Luxembourg has implemented the Axess IQ order and execution workflow solution from fixed income trading platform provider MarketAxess.

The latest onboarding at MarketAxess follows the pilot launch of Axess IQ in November. The pilot saw Julius Baer go live with the tool, which aims to improve liquidity seeking capabilities, execution capabilities, and alpha generation of private banking and wealth management institutions.

“Today’s market requires cutting-edge technology, access to the broadest possible network of liquidity and integrating high-quality market data directly into our workflow,” said head of fixed income and structured products at Banque de Luxembourg, Pierre Stoll. “We believe we are able to offer our clients a superior service through this combination and feel Axess IQ can help us exceed client expectations.”

MarketAxess has made various enhancements to Axess IQ, including integrating the workflow with the Auto-X automated trading solution. The platform provider said that the enhancements have aided its increase in automated trading volumes in the second quarter of 2020, which rose to over $32 billion.

“Our tailor-made workflow solutions are driving greater efficiency and improved workflow processes. Enhancements to Axess IQ, including the connectivity to Auto-X that now supports fully-automated execution, demonstrates our commitment to building best-in-class technology that gives our clients an edge,” said MarketAxess head of private banking for Benelux and Switzerland, Erik Tham.

Axess IQ clients have access to a network of over 1,700 active institutional investor and dealer firms via the all-to-all Open Trading marketplace, which MarketAxess said supported 32,000 orders and over $18 billion in notional value per day for trading in the second quarter of 2020.

Last week, MarketAxess confirmed it had entered into an agreement to purchase Deutsche Börse’s reporting business through its Trax subsidiary based in the Netherlands. The terms of the transaction were not disclosed.