MarketAxess to Acquire MuniBrokers to Expand Municipal Bond Offering

MarketAxess Holdings Inc. has recently announced that it has entered into an agreement to acquire MuniBrokers, a central electronic venue that services municipal bond inter-dealer brokers and dealers.

MarketAxess operates an electronic trading platform for fixed-income securities. The company also provides market data and post-trade services for the fixed income markets.

MuniBrokers, on the other hand, connects municipal securities broker’s brokers, institutional traders and broker-dealers through a central electronic marketplace. Via the marketplace, more than $400 million taxable and tax-exempt municipal bonds can be traded each day.

MarketAxess to Expand Existing Municipal Bond Trading Solution

The acquisition, which is expected to close in the fourth quarter of 2020, will allow MarketAxess to expand its existing municipal bond trading solution for global institutional investors and dealer clients.

Additionally, the transaction will complement the company’s recent expansion of its Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term provision for taxable municipal bond securities beyond the United States, through its trading venues in the United Kingdom, European Union and Singapore.

Commenting on the acquisition, Chris Concannon, President and Chief Operating Officer of MarketAxess, said in the statement: “The acquisition of MuniBrokers further bolsters our growing footprint in the municipal bond market.

“Connecting our leading trading technology with the liquidity of one of the industry’s largest electronic inter-dealer marketplace creates a compelling and diverse liquidity solution that will ultimately deliver an improved Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term experience.”

HTD to Continue to Use MuniBrokers’ Platform

In addition to the acquisition of MuniBrokers, MarketAxess has agreed with Hartfield, Titus & Donnelly LLC (HTD), which owns MuniBrokers, that it will continue to use MuniBrokers’ platform to provide liquidity.

“This relationship represents a great opportunity in the intermediated Municipal Securities market, leveraging the time-tested strengths of MuniBrokers, the experience of HTD as the leading Broker’s Broker and the industry-leading capabilities of MarketAxess,” added Ron Purpora, Chairman of parent company Hartfield, Titus & Donnelly in the statement. “We are eager to demonstrate the benefits of this relationship to the market and to our customers.”