White Paper
CP+ Unveiled
Accurate, real-time pricing for
global credit and rates markets
Julien Alexandre
Global Head of Quant Research
Chisom Amalunweze
Senior Quant Researcher
CP+ Unveiled
Accurate, real-time pricing for
global credit and rates markets
Julien Alexandre
Global Head of Quant Research
Chisom Amalunweze
Senior Quant Researcher
2CP+ W H ITE PAPER
CP+ is our award-winning, AI-powered,
algorithmic pricing engine for global
credit and rates markets.
Generating over 50 million daily two-sided updates on more than 290,000 bonds, coverage has
expanded beyond the most liquid segments and includes bonds that are eligible for most fixed
income indexes.
Leveraging the superior breadth of data from the MarketAxess trading platform, combined with
both public TRACE and proprietary TraX® data, CP+ gives traders, portfolio managers, and quants
an edge in price discovery, transaction cost analysis, and algorithmic strategies. CP+ also plays
a central role in our suite of trading protocols, both low-touch and high-touch, and new data
solutions CP+ Inquiry and CP+ Responder.
Accurate, real-time pricing is reshaping the trading day. This white paper provides transparency
into the design of CP+, and its role in the trading workflow.
Auto-XTM
AxessIQ
Indices
Mid-X
Open Trading®
Portfolio Trading
MarketAxess
Trading Data
◦ Inquiry Response
Stacks
◦ Trades & Did Not
Trade Inquiries
◦ Dealer Runs
TRACE US
Transaction Data
TraX® Global
Transaction Data
Real-time
Pricing Tools
◦ CP+ ™
◦ CP+ Inquiry
◦ CP+ Responder
CP+ is our award-winning, AI-powered,
algorithmic pricing engine for global
credit and rates markets.
Generating over 50 million daily two-sided updates on more than 290,000 bonds, coverage has
expanded beyond the most liquid segments and includes bonds that are eligible for most fixed
income indexes.
Leveraging the superior breadth of data from the MarketAxess trading platform, combined with
both public TRACE and proprietary TraX® data, CP+ gives traders, portfolio managers, and quants
an edge in price discovery, transaction cost analysis, and algorithmic strategies. CP+ also plays
a central role in our suite of trading protocols, both low-touch and high-touch, and new data
solutions CP+ Inquiry and CP+ Responder.
Accurate, real-time pricing is reshaping the trading day. This white paper provides transparency
into the design of CP+, and its role in the trading workflow.
Auto-XTM
AxessIQ
Indices
Mid-X
Open Trading®
Portfolio Trading
MarketAxess
Trading Data
◦ Inquiry Response
Stacks
◦ Trades & Did Not
Trade Inquiries
◦ Dealer Runs
TRACE US
Transaction Data
TraX® Global
Transaction Data
Real-time
Pricing Tools
◦ CP+ ™
◦ CP+ Inquiry
◦ CP+ Responder
