06.22.2026

MarketAxess Introduces TraX Tape

06.22.2026
MarketAxess Introduces TraX Tape
New data solution enhances usability, transparency and decision-making amid UK and EU transparency reforms
MarketAxess Holdings announced the launch of TraX® Tape, a data solution that delivers a clean, consolidated view of bond market activity, enriched with additional context and real-time insights.
The launch comes as UK and EU transparency reforms increase the availability of bond trading data while adding complexity to how that data is reported and interpreted. TraX Tape addresses these challenges by providing a single, standardised feed that consolidates and enhances market data, enabling clients to interpret trading activity more efficiently and with greater confidence.
“Market participants have more data than ever but turning that data into actionable insight remains a challenge,” said Dean Berry, Group COO and CEO of EMEA & APAC at MarketAxess. “TraX Tape is designed to deliver a clearer and more complete view of market activity, helping clients make more informed trading decisions.”
Built on MarketAxess TraX data, TraX Tape aggregates data from a global network of dealers and clients and applies proprietary data cleansing processes refined over 10 years. The solution then enriches the regulatory transparency data with additional real-time insights and analytics, including trade direction and pricing context from MarketAxess’ AI-powered pricing engine CP+.
Key features include:
  • Directional indicators on each trade, providing clearer insight into market sentiment
  • A consolidated view of global bond trading activity through a single connection
  • Clean, de-duplicated data to improve usability and reduce operational burden
  • Expanded coverage and earlier visibility into trading activity
  • Integrated analytics, including yield and spread calculations, to support trading and execution analysis
“The consolidated tape will bring increased transparency and standardisation to global bond markets,” Berry added. “TraX Tape builds upon that foundation and brings clarity with contextual intelligence that can only come from seeing how bonds actually trade on one of the world’s largest electronic credit platforms. The data tells you what happened, and TraX Tape tells you what it means.”
Source: MarketAxess

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