MarketAxess is in advanced discussions with algorithmic trading firm XTX Markets to form a joint venture focused on developing technology for corporate bond trading, Bloomberg and Reuters reported, citing people familiar with the matter. An announcement could come as early as next week.
The proposed venture would combine MarketAxess’s electronic fixed-income trading platform with XTX’s expertise in quantitative trading and liquidity provision. It could lead to innovations that improve liquidity and trading efficiency in the corporate bond market.
Neither company has issued an official statement.