Several market sources have reported that MTS Markets, the fixed income trading division of Euronext, is to launch a dealer-to-client credit trading offering through its BondVision platform in the European market.
The offering is understood to be launching in partnership with some of the largest dealers in the market, amongst which are JP Morgan, Citi and Deutsche Bank, aimed at enhancing competition in the fixed income D2C space, to attract buy-side engagement.
Sell-side firms have reportedly been offered material incentives on commercial terms and data policies to support their sustained engagement with BondVision.
Cost is understood to be a major competitive factor in European credit trading for dealers, and the combined repo, rates and credit offering from MTS Markets is potentially a model that can offer efficiencies through cross-market support.
MTS, Citi, Deutsche Bank and JP Morgan were all contacted for this story and declined to comment.
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