Euronext’s fixed income trading platform MTS has gone live with a new buy- and sell-side dealer to client protocol.
Named the BondVision Dealer-to-Client (DCT), the newly launched offering is a multi-dealer buy– and sell-side focused protocol that covers rates, credit and repo.
The offering was developed as part of the BondVision partnership announced by Euronext’s MTS in September last year.
Read more – Euronext’s MTS partners with BondVision on growth initiative launch
“The BondVision Partnership was established to improve market efficiencies, increase liquidity and promote market competition,” said Patrick Whelan, global head of FICC digital markets at JP Morgan.
“As early supporters of this growth initiative, leading the adoption of the new DCT protocol further underscores our commitment to fostering innovation. By automating the process trade workflows, dealers can now focus on delivering service to clients, ultimately improving our capacity to serve clients with greater precision and speed.”
MTS and BondVision confirmed that the new protocol will “address key operational challenges and enhance efficiencies in processed trade workflow through automation”.
Dealers can send processed trades to clients via an API. MTS said dealers will drive the process to book risk internally and dispatch processed trades to their clients. Dealers can also input trades via the MTS BondVision sales GUI.
“As part of Euronext’s ‘Innovate for Growth 2027’ strategic plan, MTS is committed to innovation in fixed income trading by continually developing its technology offering to meet the evolving needs of the market,” said Angelo Proni, chief executive of MTS.
“DCT has been specifically developed as part of the BondVision Partnership and provides an elegant, functional solution to support our strategy.”
MTS said the service will remove the need for manual trade entry of ticket fields for clients, improving STP connectivity.