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MarketAxess Expands Mid-X to US Credit Market, Enhances Dealer Protocol.
ByAinvest
Friday, Aug 8, 2025 6:27 pm ET1min read
MarketAxess will launch Mid-X for U.S. investment grade and high-yield bonds, expanding its anonymous mid-point matching sessions to the U.S. credit market. The move is part of dealer protocol enhancements, including a new one-step submit-and-trade mechanism and upgrades to its Dealer RFQ protocol. MarketAxess also executed the first fully electronic trade of Indian Government Bonds on its newly launched platform.
MarketAxess Holdings Inc. (Nasdaq: MKTX) has announced the launch of Mid-X in the U.S. credit market, enhancing its anonymous mid-point matching sessions to include investment grade (IG) and high-yield (HY) bonds. This move is part of a broader suite of dealer protocol enhancements, which also includes a new one-step submit-and-trade mechanism and upgrades to its Dealer RFQ protocol. The company has also executed the first fully electronic trade of Indian Government Bonds on its newly launched platform.The new Mid-X protocol, powered by the AI-powered real-time predictive pricing engine CP+™, aims to provide dealers with greater access to liquidity and increased workflow efficiency. The protocol will introduce a new one-step submit and trade process, simplifying the trading process and making it more user-friendly. This enhancement is particularly timely, given the current market environment, which demands easier access to liquidity and better tools for risk management.
Last year, MarketAxess successfully launched an enhanced Mid-X protocol for emerging markets and eurobonds, resulting in a 70% increase in volumes during the second quarter of 2025 compared to the same period in 2024. The company's goal is to replicate this success in the U.S. credit market, fostering a more inclusive trading environment where dealers feel comfortable engaging with the platform's growing list of protocols and enhancements.
The launch of Mid-X in the U.S. credit market is part of MarketAxess' ongoing strategy to expand its reach and provide more robust trading solutions to its clients. The company's commitment to innovation and technology is evident in its use of AI-powered tools and its continuous improvement of its trading protocols.
References:
[1] https://investor.marketaxess.com/news/news-details/2025/MarketAxess-Announces-the-Launch-of-Mid-X-in-US-Credit/default.aspx
[2] https://www.stocktitan.net/news/MKTX/market-axess-announces-the-launch-of-mid-x-in-us-yjxe0isj5qmu.html
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