MarketAxess Launches Electronic Trading of Preferred Stocks and Asset-Backed Securities

By Marketaxess Holdings Inc., PRNE
Tuesday, May 10, 2011

NEW YORK and LONDON, May 11, 2011 - MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading
electronic trading platform for U.S. and European high-grade corporate bonds,
emerging markets bonds and other types of fixed-income securities, today
announced the launch of electronic trading for preferred stocks and
consumer-based asset-backed securities (ABS) on its award-winning e-trading

MarketAxess is the first electronic fixed-income marketplace to offer
trading of preferred stocks
( for institutional
investors, with liquidity provided by 13 market-making dealers through the
MarketAxess corporate bond platform.

ABS trading on MarketAxess
( began in
February and now has 14 market-making dealers providing liquidity to the
platform, with 100 institutional investor customers signed up to trade.
Product coverage includes credit cards, equipment leases, floor-plans,
student loans, timeshares and autos.

Electronic trading of both ABS and preferred stocks takes place using the
patented MarketAxess request-for-quote (RFQ) trading system. Post-trade
reporting is streamlined with MarketAxess' straight-through-processing (STP)

Kelley Millet, President of MarketAxess added: "We have brought increased
liquidity and transparency to the corporate bond markets through e-trading,
and are pleased to leverage our award-winning platform for consumer ABS and
preferred stock trading. The introduction of these two new products comes as
trading volumes on MarketAxess continue to show promising growth both in our
core high grade products as well as in the "other" products category which
includes high yield securities
(, emerging markets debt
(, agencies
( and credit default
swaps (CDS) ("

On Wednesday, April 27, 2011, as part of its first quarter earnings
release, MarketAxess reported that investment grade trading volumes grew
38.5% in the first quarter of 2011 compared to the same quarter last year. In
addition, trading volume in "other" products grew by over 78% over the same
period, reflecting a wider demand for more diverse credit products on the
MarketAxess platform.

John Gallagher, U.S. Investment Grade Product Manager at MarketAxess,
said: "We are committed to offering the institutional marketplace access to
a broad range of electronic fixed-income products across the full capital
structure. ABS and preferred stock trading were launched in direct response
to strong customer demand."

About MarketAxess

MarketAxess operates a leading electronic trading platform that enables
investment industry professionals to efficiently trade corporate bonds and
other types of fixed-income instruments. MarketAxess' patented trading
technology allows institutional investor clients to request competitive,
executable bids or offers from multiple broker-dealers simultaneously, and to
execute trades with the broker-dealer of their choice. Over 800 institutional
investors are active users of the MarketAxess trading platform, accessing the
global liquidity provided by MarketAxess' 81 broker-dealer clients in U.S.
high-grade corporate bonds, European bonds, high yield and emerging markets
bonds, agency bonds, asset-backed and preferred securities and credit default
swaps. MarketAxess also offers a number of trading-related products and
services, including: market data to assist clients with trading decisions;
connectivity solutions that facilitate straight-through processing;
technology services to optimize trading environments; and execution services
for exchange-traded fund managers and other clients.

MarketAxess maintains its headquarters in New York and has offices in
London, Chicago and Salt Lake City. For more information, please visit .

Media Contacts: US: Florencia Panizza of MarketAxess, +1-212-813-6029, fpanizza at; or Judith Flynn of William McBride & Associates, +1-917-902-9726, jflynn at; or UK: Charlie Prichard of MHPC, +44 (20) 3128 8554, marketaxess at

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