PRODUCT SHEET
©2026 MarketAxess Holding Inc. (the "Company"). MarketAxess Corporation is registered as a broker-dealer with the SEC and as an introducing broker with the CFTC. It is a member of FINRA, the MSRB, the NFA and SIPC. MarketAxess Canada
Company is registered as an Alternative Trading System with the Ontario Securities Commission, the Autorité des Marchés Financiers, the British Columbia Securities Commission and the Alberta Securities Commission and is a member of CIRO.
MarketAxess Europe Limited (04017160), MarketAxess Capital Limited (09777893), and MarketAxess Post-Trade Limited (01917944) are incorporated in England and Wales, and are each authorised and regulated by the Financial Conduct
Authority. MarketAxess NL B.V. (69592888) is incorporated in the Netherlands and is authorised and regulated by the Autoriteit Financiële Markten. MarketAxess Post-Trade B.V. (69597774) is incorporated in the Netherlands and is supervised
by the European Securities and Markets Authority. MarketAxess Singapore Pte. Limited (201702319R) is incorporated in Singapore and recognised by the Monetary Authority of Singapore. MarketAxess is a trading name of the aforementioned
entities. To the fullest extent permitted by applicable law, all warranties and representations are disclaimed. All information presented herein is considered to be accurate at the time of writing, provided "as is" with no express or implied
representations or warranties—including without limitation in relation to fitness for purpose, accuracy, or completeness of contents. Whilst sources of information are believed to be reliable, MarketAxess does not independently verify
information obtained from third party sources. The trading platforms, data products, and related services offered by MarketAxess are intended solely for institutional investors, broker-dealers, and other qualified market participants. Access
to and use of our platforms and services is restricted to eligible institutional participants who meet applicable regulatory and eligibility requirements. Retail investors are not permitted to access or use our trading platforms or services. Nothing
in these materials constitutes an offer, solicitation, or recommendation to buy or sell any securities or to enter into any transaction. For the purposes of clients accessing MarketAxess services from EU27 countries, this information is provided
by MarketAxess NL B.V. and /or MarketAxess Post-Trade B.V., as appropriate. Proprietary and confidential information of the Company—all forms of copying prohibited. Further information on MarketAxess can be found at marketaxess.com.
Contact your sales representative or Client Services in your region for more information
NEW YORK
+1 877 638 0037
info@marketaxessfinance.com
LONDON
+44 (0) 20 7709 3105
euroinfo@marketaxessfinance.com
SÃO PAULO
+55 11 3080 8400
info@marketaxessfinance.com
SINGAPORE
+65 6916 1300
asiainfo@marketaxessfinance.com
Tradability
Real-time predictive liquidity depth for corporate bonds
Tradability is our AI-driven liquidity metric that assesses the market’s capacity
to provide immediate pricing to a specific order. By generating a single pre-
trade prediction of the total number of disclosed and anonymous responses
to a given client RFQ inquiry, it estimates the depth-of-market for a specific
inquiry. Thanks to our extensive and proprietary trading platform and
historical response data, Tradability delivers size, side, and bond specific
analysis in real-time.
By leveraging the same AI architecture as our award-winning CP+™ pricing
engine, Tradability covers nearly 42,000 bonds across US, EUR, CHF and GBP
Corps.
Figure 1: The average tradability predictions by side for all qualifying MKTX inquiries across
each product from H2 2025.
Tradability is an integer value for the expected number of responses, ranging
from 2 to 25+ depending on prevailing market conditions and liquidity.
Tradability can be used to assess relative liquidity and is highly tuned to
electronic trading on MarketAxess.
Features and Benefits
• Next-generation liquidity
assessment tool, predicting real-
time responses per bond, side, and
size.
• Key component to automation and
algo strategies
• Unique input data, exclusive to the
MarketAxess Trading System.
• Available via hourly FTP file delivery
and to view on X-Pro and on the
MarketAxess GUI.
• Assists with trade sizing and both
security and protocol selection.
Coverage
Markets # of SecuritiesUS HG 17,000
EUR HG/HY 8,300
US EM 6,000
US HY 4,500
EUR SAS 1,800
CHF HG 1,800
GBP HG/HY 1,600
©2026 MarketAxess Holding Inc. (the "Company"). MarketAxess Corporation is registered as a broker-dealer with the SEC and as an introducing broker with the CFTC. It is a member of FINRA, the MSRB, the NFA and SIPC. MarketAxess Canada
Company is registered as an Alternative Trading System with the Ontario Securities Commission, the Autorité des Marchés Financiers, the British Columbia Securities Commission and the Alberta Securities Commission and is a member of CIRO.
MarketAxess Europe Limited (04017160), MarketAxess Capital Limited (09777893), and MarketAxess Post-Trade Limited (01917944) are incorporated in England and Wales, and are each authorised and regulated by the Financial Conduct
Authority. MarketAxess NL B.V. (69592888) is incorporated in the Netherlands and is authorised and regulated by the Autoriteit Financiële Markten. MarketAxess Post-Trade B.V. (69597774) is incorporated in the Netherlands and is supervised
by the European Securities and Markets Authority. MarketAxess Singapore Pte. Limited (201702319R) is incorporated in Singapore and recognised by the Monetary Authority of Singapore. MarketAxess is a trading name of the aforementioned
entities. To the fullest extent permitted by applicable law, all warranties and representations are disclaimed. All information presented herein is considered to be accurate at the time of writing, provided "as is" with no express or implied
representations or warranties—including without limitation in relation to fitness for purpose, accuracy, or completeness of contents. Whilst sources of information are believed to be reliable, MarketAxess does not independently verify
information obtained from third party sources. The trading platforms, data products, and related services offered by MarketAxess are intended solely for institutional investors, broker-dealers, and other qualified market participants. Access
to and use of our platforms and services is restricted to eligible institutional participants who meet applicable regulatory and eligibility requirements. Retail investors are not permitted to access or use our trading platforms or services. Nothing
in these materials constitutes an offer, solicitation, or recommendation to buy or sell any securities or to enter into any transaction. For the purposes of clients accessing MarketAxess services from EU27 countries, this information is provided
by MarketAxess NL B.V. and /or MarketAxess Post-Trade B.V., as appropriate. Proprietary and confidential information of the Company—all forms of copying prohibited. Further information on MarketAxess can be found at marketaxess.com.
Contact your sales representative or Client Services in your region for more information
NEW YORK
+1 877 638 0037
info@marketaxessfinance.com
LONDON
+44 (0) 20 7709 3105
euroinfo@marketaxessfinance.com
SÃO PAULO
+55 11 3080 8400
info@marketaxessfinance.com
SINGAPORE
+65 6916 1300
asiainfo@marketaxessfinance.com
Tradability
Real-time predictive liquidity depth for corporate bonds
Tradability is our AI-driven liquidity metric that assesses the market’s capacity
to provide immediate pricing to a specific order. By generating a single pre-
trade prediction of the total number of disclosed and anonymous responses
to a given client RFQ inquiry, it estimates the depth-of-market for a specific
inquiry. Thanks to our extensive and proprietary trading platform and
historical response data, Tradability delivers size, side, and bond specific
analysis in real-time.
By leveraging the same AI architecture as our award-winning CP+™ pricing
engine, Tradability covers nearly 42,000 bonds across US, EUR, CHF and GBP
Corps.
Figure 1: The average tradability predictions by side for all qualifying MKTX inquiries across
each product from H2 2025.
Tradability is an integer value for the expected number of responses, ranging
from 2 to 25+ depending on prevailing market conditions and liquidity.
Tradability can be used to assess relative liquidity and is highly tuned to
electronic trading on MarketAxess.
Features and Benefits
• Next-generation liquidity
assessment tool, predicting real-
time responses per bond, side, and
size.
• Key component to automation and
algo strategies
• Unique input data, exclusive to the
MarketAxess Trading System.
• Available via hourly FTP file delivery
and to view on X-Pro and on the
MarketAxess GUI.
• Assists with trade sizing and both
security and protocol selection.
Coverage
Markets # of SecuritiesUS HG 17,000
EUR HG/HY 8,300
US EM 6,000
US HY 4,500
EUR SAS 1,800
CHF HG 1,800
GBP HG/HY 1,600
