PRODUCT SHEET
This is Rates trading with more control, deeper liquidity, flexible
connectivity methods, and better pricing.
With MarketAxess UST Live Markets, you’re gaining access to a market that
traditionally only brokers have seen. You’re gaining access to live, easily
accessible, executable liquidity that you can’t find on any other platform.
All the major liquidity providers are here. From traditional broker-dealers to
alternative liquidity providers.
Our mix of PTF and Bank liquidity providers deliver complementary pricing.
• PTFs often provide tight inside levels not found on traditional venues.
• Banks consistently back up liquidity with large size at standard levels.
• The combo works well to give clients tight inside prices unique to our
platform and provide a deep pool of sustained liquidity especially in
times of volatility.
With the granularity and quality of pricing that UST Live Markets offers
(2-5yr OTR markets at 1/16th of a 32nd; 7-30yr OTR markets at 1/8th of a 32nd,)
you have more opportunities to find cost savings you won’t find anywhere else.
And finally, you can do all of this with almost no information leakage. You only
face MKTX, showing no information on your balance (utilizing Iceberg orders),
and may transact with multiple counterparties immediately upon onboarding.
Live Markets for US Treasuries
Firm, executable, streaming prices in an easy-to-use, customized order book
Features and benefits
• 21 of 25 primary dealers
participating on the platform
• Live, firm executable pricing
streamed from 17 liquidity
providers, covering ~90% of
the market, pricing both OTRs
and OFTRs
• Anonymous trading limits
information leakage to
the market
• Competitive pricing at inside
levels. OTR markets quoted
down to 1/16th of a 32nd
• Higher quality of execution:
~60% of trades executed on
UST Live Markets at inside
increments
• Ability to leave resting / limit
orders (down to the 1k
increment)
This is Rates trading with more control, deeper liquidity, flexible
connectivity methods, and better pricing.
With MarketAxess UST Live Markets, you’re gaining access to a market that
traditionally only brokers have seen. You’re gaining access to live, easily
accessible, executable liquidity that you can’t find on any other platform.
All the major liquidity providers are here. From traditional broker-dealers to
alternative liquidity providers.
Our mix of PTF and Bank liquidity providers deliver complementary pricing.
• PTFs often provide tight inside levels not found on traditional venues.
• Banks consistently back up liquidity with large size at standard levels.
• The combo works well to give clients tight inside prices unique to our
platform and provide a deep pool of sustained liquidity especially in
times of volatility.
With the granularity and quality of pricing that UST Live Markets offers
(2-5yr OTR markets at 1/16th of a 32nd; 7-30yr OTR markets at 1/8th of a 32nd,)
you have more opportunities to find cost savings you won’t find anywhere else.
And finally, you can do all of this with almost no information leakage. You only
face MKTX, showing no information on your balance (utilizing Iceberg orders),
and may transact with multiple counterparties immediately upon onboarding.
Live Markets for US Treasuries
Firm, executable, streaming prices in an easy-to-use, customized order book
Features and benefits
• 21 of 25 primary dealers
participating on the platform
• Live, firm executable pricing
streamed from 17 liquidity
providers, covering ~90% of
the market, pricing both OTRs
and OFTRs
• Anonymous trading limits
information leakage to
the market
• Competitive pricing at inside
levels. OTR markets quoted
down to 1/16th of a 32nd
• Higher quality of execution:
~60% of trades executed on
UST Live Markets at inside
increments
• Ability to leave resting / limit
orders (down to the 1k
increment)
