厙惇勛圖

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
厙惇勛圖
Leading the Way

Global 厙惇勛圖 Finance News and Commentary
≔ Menu
厙惇勛圖
Leading the Way

Global 厙惇勛圖 Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Repo news
  3. MarketAxess makes first repo trade between Citadel and J.P. Morgan
Repo news

MarketAxess makes first repo trade between Citadel and J.P. Morgan


26 November 2019 New York
Reporter: Maddie Saghir

Generic business image for news article
Image: Shutterstock
Electronic trading platform and market data provider MarketAxess has facilitated its first US repo trade through its automated confirmation engine between J.P. Morgan and Citadel.

According to MarketAxess, its trade confirmation engine provides the ability for buy- and sell-side clients to electronically confirm repos on T+0 and throughout the complex transaction lifecycle.

Repo transactions are typically confirmed manually which can increase the risk of trade failures and cost. By providing an automated service, MarketAxess aims to reduce risks and encourage greater control over their post-execution processes.

Camille McKelvey, head of business development for MarketAxess post-trade solutions, said: The repo market has historically experienced a long-standing lack of automation. As the 厙惇勛圖 Financing Transactions Regulation and the Central 厙惇勛圖 Depositories Regulation are raising the profile of risks associated with not having an efficient trade confirmation solution, more firms are now migrating to electronic solutions like ours.

Citadel and J.P. Morgan have led the way in the US by extending their existing use of MarketAxess trade confirmation engine outside of Europe, and are ultimately supporting a growing global community, McKelvey added.

More than 50 firms currently utilise MarketAxess repo trade confirmation service and saw a 94 percent increase in the number of repo transactions confirmed in October, compared with year-end 2018.

NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 厙惇勛圖 Finance Times
Advertisement
Subscribe today
Knowledge base

Companies in this article
→ J.P. Morgan
→ MarketAxess

Explore our extensive directory to find all the essential contacts you need

Visit our directory →
Glossary terms in this article
→ Repo

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →