MTS, Europe’s premier facilitator for the electronic fixed income market, announced today that it has launched an electronic market for UK government bonds, or Gilts.
MTS is the first technology provider to facilitate both the interdealer and dealer-to-client Gilt markets. Gilt Edged Market Makers (GEMMS) on the interdealer MTS Cash platform will also provide liquidity on the MTS BondVision multi-dealer-to-client platform.
The UK joins the primary and secondary government bond markets of 16 other European countries already trading on MTS. Several leading international banks have already declared their intention to participate in the new market.
Jack Jeffery, Chief Executive of MTS, said:
The launch of this platform marks a great step forward for the UK sovereign debt market, which continues to see a rapid evolution. There is an increased focus on transparency and regulation, and the number of GEMMs operating in the space has now grown to 20. As a result there is an increasing demand to trade Gilts electronically, in a marketplace which improves on the efficiencies of voice broking. As a regulated and transparent, electronic platform, MTS is well placed to facilitate this changing landscape. We look forward to improving liquidity, efficiency and transparency in the Gilt market, to the benefit of all participants.
MTS has a proven track record of delivering regulated, orderly and efficient platforms across European debt markets. In recent weeks MTS has added to the number of government debt markets it facilitates with the launch of platforms in Hungary and the Czech Republic.
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About MTS:
MTS is Europe’s premier facilitator for the electronic fixed income trading market, with over 500 unique counterparties and average daily volumes exceeding EUR 85 billion. MTS customers benefit from its relationship with Europe’s leading diversified exchange business, the London Stock Exchange Group, which operates the largest and most liquid equity marketplace in Europe.
MTS markets provide the professional trading environment for the interdealer marketplace, enabling primary dealers from across the globe to access unparalleled liquidity, transparency and coverage.
MTS further facilitates the dealer-to-client bond market through BondVision, the most trusted and efficient electronic bond trading market, delivering exceptional access for institutional investors direct to the market makers.
MTS Data is sourced directly and exclusively from the MTS interdealer market and includes benchmark real-time data, reference data, reference prices, time series data and snap- shot data, providing the benchmark data source on the fixed income market.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe’s leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,500 people.
Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com