DTCC in talks to clear MarketAxess bond trades
Market-first move could cut platform’s costs and counterparty risks
MarketAxess, one of the largest corporate bond trading platforms for asset managers, is considering centrally clearing some client trades at the National Securities Clearing Corporation.
A source close to MarketAxess says the company is “evaluating” the opportunity, though discussions are at an early stage. In a conversation with Risk.net, a senior figure at the Depository Trust & Clearing Corporation, parent company of the NSCC, confirmed that talks had begun with the trading platform
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