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MarketAxess is launching Opening and Closing Auctions, the first standardized market-wide auction protocol for US credit. The auctions aim to improve price discovery and liquidity. MarketAxess consulted with buy-side and sell-side participants, including AllianceBernstein, BlackRock, DWS, and State Street Investment Management, to develop the protocol. The auctions will be available on the X-Pro Trading platform for US high-grade and high-yield bonds.

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