Marketaxess Holdings Inc. (Nasdaq: MKTX) today announced the completion of the acquisition of a majority of the RFQ-HUB platform, bilateral multilevel and multilevel applications for bid (RFQ) focusing on shares and factors with fixed income and derivatives.
After closing, Marketaxess holds about a 90% share of RFQ-HUB control.
Kat Sweeney, a global head of data solutions and ETF at Marketaxess, commented:
“We are seeing enormous opportunities in the combination of RFQ-HUB technology with our global customer network. We work with the Consortium and the RFQ-Hub team for over two years and are already experiencing synergistic victories.
Marketaxess focuses on supporting and expanding the role of ETF fixed income and future fulfillment, as they are becoming increasingly important tools for our customers to manage their exposure to the fixed income market and to unlock liquidity to underlying bonds. “
The RFQ-Hub is a global derivative and ETF platform that has been operating since 2008. In May 2022, Virtu Financial announced the creation of a consortium, RFQ-Hub Holdings LLC, to support the development of the RFQ-HUB. In addition to Marketaxess and Virtu, members of the establishment consortium included Citadel Securities, flow traders and Jane Street Capital and Blackrock asset manager. All founding members will maintain a minority and continue to work with Marketaxess as part of the new model of property.