Euronext’s MTS is building out its BondVision platform, aiming to grow the platform and promote competition across the market.
Introducing competitive and simple fees for dealers on the platform will encourage better service levels for clients from supporting dealers, the firm stated, who are able to use MTS’s established market presence, network and proprietary technology.
Rumours of the project began circulating earlier in the summer, with sell-side firms said to have been offered material incentives on commercial terms and data policy to continue engaging with BondVision.
READ MORE: Reports: MTS to launch D2C initiative with backing from major dealers
Angelo Proni, CEO of MTS, said: “This initiative provides an opportunity to deepen our relationship with BondVision dealers, by enhancing their role in shaping the platform’s key policies. With their support, we aim to extend our D2C rates offering and build a credible presence in credit trading.”
The initiative has the support of BondVision’s top ten dealers, Euronext said, namely Barclays, Bank of America, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Citi, Deutsche Bank, JP Morgan, Morgan Stanley, Nomura and UniCredit.
Alexis Serero, head of flow European credit trading, Citi, said, “The industry needs a credible electronic alternative that improves pricing efficiency in the market, brings new creative ideas to support the needs of both clients and dealers, and helps drive cost efficiency. With BondVision, we’ve found it.”
Pierre Morel, global co-head of investment grade trading at JP Morgan, shared: “We are excited to support this initiative as it fosters innovation, which has benefits for the entire European bond market. By addressing key concerns like cost pressures and enhancing data use provisions, BondVision improves efficiency and delivers significant advantages to all market participants.”
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