Virtu Financial, Inc. (NASDAQ:VIRT) and MarketAxess Holdings, Inc. (NASDAQ: MKTX), have teamed up to provide institutions with enhanced trading tools and access to global exchange-traded funds (ETFs) and fixed income securities.
The partnership will include the distribution of Virtu’s streaming eNAV ETF fair value offering and will launch in Q3 2019.
Virtu recently completed the acquisition of ITG, aiming to create a premier agency execution and broker neutral workflow and analytics franchise.
MarketAxess is the operator of a electronic trading platform for fixed-income securities, and provides market data and post-trade services for the global fixed-income markets.
We are pleased to partner with Virtu to deliver institutional investors a new, cost-efficient, secure solution for achieving quality execution in ETFs,” MarketAxess President Chris Concannon said. “ETFs have grown quickly to become an integral feature of the liquidity landscape in global credit markets. Our entry into ETF trading with Virtu is a natural extension of our success with Open Trading™, now established as the preferred all-to-all trading solution in the credit markets.
This exciting and complementary partnership combines MarketAxess’s leading fixed-income platform with Virtu’s global multi-asset class and ETF expertise,” commented Doug Cifu, Virtu Financial Chief Executive Officer. “Clients of MarketAxess will have access to Virtu’s leading ETF platform RFQ-hub and will benefit from the seamless integration of RFQ-hub’s ETF trading and analytics services. In addition, RFQ-hub will have access to MarketAxess’ leading fixed income platform.