S&P Global Market Intelligence and MarketAxess Announce Strategic Fixed-Income Data Partnership
Rhea-AI Summary
MarketAxess Holdings (Nasdaq: MKTX) and S&P Global Market Intelligence have announced a strategic data partnership to enhance fixed-income market transparency. The collaboration involves integrating S&P Global Bond Reference Data into MarketAxess's data products and incorporating MarketAxess CP+™ real-time pricing into S&P Global's Evaluated Bond Pricing. The partnership combines S&P Global's evaluation of over 1.2 million bonds with MarketAxess CP+'s AI-powered real-time pricing, which provides updates every 15-60 seconds. The data integration is set to begin in the first half of 2025.
Positive
- Strategic partnership with S&P Global Market Intelligence enhances product offering
- Integration expands market reach through S&P Global's 1.2 million bond coverage
- Partnership enables development of new product solutions
- Potential for increased revenue through expanded service offerings
Negative
- Integration implementation delayed until first half of 2025
News Market Reaction – MKTX
On the day this news was published, MKTX declined 1.43%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Core to the partnership will be the integration of S&P Global Bond Reference Data into the MarketAxess suite of data products, and the inclusion of MarketAxess CP+™ real-time pricing into S&P Global's Evaluated Bond Pricing.
MarketAxess CP+ is a real-time bond pricing source for Global Credit, Rates and Emerging Markets powered by AI and proprietary data, including the company's global fixed-income trading platform and TraX® data. With two-sided prices delivered every 15 to 60 seconds, clients rely on MarketAxess CP+ for price discovery, transaction cost analysis, and automated trading strategies.
Combining S&P Global's Evaluated Bond Pricing of over 1.2 million Corporate, Sovereign and Municipal bonds with MarketAxess CP+ is expected to result in more consistent pricing and greater efficiencies across the trade lifecycle including front, middle and back-office functions.
"We are excited about this collaboration as it connects a market-leading institutional trading platform with a leading data provider, bringing transparency and consistency in data used across the different functions of our customers, said Laura Misher, Vice President at S&P Global Market Intelligence. "Additionally, our combined expertise will allow us to develop solutions that will address customer challenges across the trade lifecycle."
"Incorporating CP+ into S&P Global Evaluated Bond Pricing service will enable our firms to close the gaps between best execution, intraday trading decisions and end-of-day valuation," said Kat Sweeney, Global Head of Data and ETF Solutions at MarketAxess. "We are thrilled to be working with S&P Global Market Intelligence, an innovator across the entire fixed-income ecosystem, to further our common goal of bringing more transparency to the fixed-income cash and ETF markets."
The data integration is expected to start in the first half of 2025 and will also enable the two companies to differentiate their existing product offerings and innovate new solutions.
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. Our team of experts delivers unrivaled insights and leading data and technology solutions, partnering with customers to expand their perspective, operate with confidence, and make decisions with conviction.
S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.
About MarketAxess
MarketAxess (Nasdaq: MKTX) operates a leading electronic trading platform that delivers greater trading efficiency, a diversified pool of liquidity and significant cost savings to institutional investors and broker-dealers across the global fixed-income markets. Over 2,000 firms leverage MarketAxess' patented technology to efficiently trade fixed-income securities. MarketAxess' award-winning Open Trading ® marketplace is widely regarded as the preferred all-to-all trading solution in the global credit markets. Founded in 2000, MarketAxess connects a robust network of market participants through an advanced full trading lifecycle solution that includes automated trading solutions, intelligent data and index products and a range of post-trade services. Learn more at www.marketaxess.com and on X @MarketAxess.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 with respect to consistency, efficiencies, product development, expected start dates, innovation and product differentiation. These and other statements that relate to future results and events are based on MarketAxess' current expectations. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. Please refer to the periodic filings MarketAxess makes with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause events and results to differ materially from those contained in the forward-looking statements set forth in this press release. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. More information about these and other factors affecting MarketAxess' business and prospects is contained in MarketAxess' periodic filings with the Securities and Exchange Commission and can be accessed at www.marketaxess.com.
Media Contacts:
Sabrina Mayeen for S&P Global
P. +44 (0)20 7176 0495
E. sabrina.mayeen@spglobal.commailto:Amanda.Oey@spglobal.com
Marisha Mistry for MarketAxess
P. +1 917 267 1232
E. mmistry@marketaxess.com
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SOURCE S&P Global Market Intelligence
FAQ
What is the new partnership between MarketAxess (MKTX) and S&P Global Market Intelligence?
When will the MarketAxess (MKTX) and S&P Global Market Intelligence data integration begin?
How many bonds does the S&P Global's Evaluated Bond Pricing cover in the MarketAxess (MKTX) partnership?
How frequently does MarketAxess (MKTX) CP+ update its pricing?
