BlackRock and MarketAxess partner for open Trading for US Credits


BlackRock and MarketAxess today announced a strategic alliance to create a unified, open trading solution in the U.S. credit markets.

“This partnership enables Aladdin clients to tap into a deeper liquidity pool without ever having to leave Aladdin, while maintaining their existing trade workflow”

The alliance between BlackRock’s Aladdin Trading Network (ATN) and MarketAxess, the industry leader in electronic credit trading, is designed to help reduce liquidity fragmentation and improve pricing across credit markets, while expanding both firms’ open trading efforts.

MarketAxess will run electronic trading and broker dealer operations, which will be connected to BlackRock’s enterprise investment system, Aladdin, that hosts $14 trillion in BlackRock and Aladdin client assets. BlackRock will provide buy side leadership, input on strategic direction, and innovations in trade execution capabilities for clients. The two firms will work together on product and business development.

The alliance evolves Aladdin Trading Network into a fixed income trading portal that consolidates fragmented liquidity for the benefit of Aladdin clients, significantly expanding access from within Aladdin to the broader marketplace. The partnership leverages the connectivity and distribution capabilities of MarketAxess to enhance access to liquidity and improve pricing for BlackRock asset management and Aladdin clients quickly and effectively. More than 1,000 asset managers, insurance companies, other investor firms and broker-dealers are active users of the MarketAxess platform.

Caplin covered other Credit trading initiatives that deal with fragmented liquidity here

Full PR from BlackRock/MarketAxess here,

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