MarketAxess Holdings Inc., the operator of a leading electronic trading platform for fixed-income securities, announced the successful execution of the first trade on its newly launched, fully electronic trading solution for Indian Government Bonds (IGBs), designed specifically for Foreign Portfolio Investors (FPIs) and market makers.
The inaugural trade was completed between BlackRock and Standard Chartered.
Jatin Vara, Head of International Trading at BlackRock, said: “We are excited to see access to India’s onshore bond market becoming more efficient and scalable. India offers compelling opportunities for foreign investors, especially in its expanding onshore bond market, where continued inclusion in major global indices is fuelling strong investor interest.”
“It’s especially rewarding to see this first trade completed,” said Riad Chowdhury, Head of Asia-Pacific at MarketAxess. “Our solution for India has been purpose-built to meet the specific needs of institutional investors and dealers, and we look forward to increased client adoption in the coming months.”
Source: MarketAxess
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