MarketAxess Holdings Inc. (NASDAQ:MKTX) just made inroads into one of Asia’s largest financial hubs. MarketAxess Singapore Pte. Limited, the group’s subsidiary, has just garnered approval by the Monetary Authority of Singapore (MAS) to operate as a Recognised Market Operator (RMO), greatly helping its growth prospects.
The approval is a huge boost for MarketAxess as this is one of the largest regions globally. With the need for electronic trading solutions growing at a rapid pace, MarketAxess has strategically placed itself in the region.
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Christophe Roupie, Head of Europe and Asia for MarketAxess and Trax, commented: “We are deeply committed to our growing community of buy- and sell-side clients across the globe and recognise the unique opportunity in Asia.
The development coincides with Asia’s uptick in active firms, which are meeting the demand for liquidity. As an RMO, MarketAxess will be ideally positioned to help the institutional fixed income community. The group already maintains a presence in Singapore and Hong Kong, however this development has greatly bolstered its footprint in the region.
“MarketAxess has a track record of repeated innovation in fixed income products, including our all-to-all Open Trading marketplace. Receiving our RMO approval further demonstrates our commitment to expanding our business in the region and investing in local capabilities. We are looking forward to strengthening our footprint in Asia and demonstrating our abilities to making the markets more efficient and liquid,” reiterated Mr. Roupie.