MarketAxess Holdings, the operator of a leading electronic trading platform for fixed-income securities, today announced multiple enhancements to its dealer-initiated protocols, including the launch of Mid-X in US Credit and enhancements to its Dealer RFQ protocol.

Last year, MarketAxess successfully launched an enhanced Mid-X protocol, the firm’s anonymous mid-point matching session, for emerging markets and eurobonds.

Second quarter 2025 volumes from Mid-X matching sessions in emerging markets and eurobonds have increased 70% compared to the second quarter of 2024. Mid-X sessions are powered by CP+™, the AI powered real-time predictive pricing engine for Global Credit and Rates markets and will now include a new one-step submit and trade protocol.

“Today’s market environment calls for easier access to liquidity, increased workflow efficiency and better tools for dealers to recycle risk generated by increased portfolio trading,” said Steve Tait, Head of US Dealer Execution Business at MarketAxess. “By providing dealers with the level of support, tools and technology on par with what they are receiving from sales desks and inter-dealer brokers, we believe that we have been able to create a more inclusive trading environment where dealers feel increasingly comfortable engaging with our growing list of protocols and enhancements.”

Source: MarketAxess