MTS Credit has announced that Crédit Agricole Corporate and Investment Bank (CA CIB) has become the first prime bank to sign on to its platform for the electronic trading of non-government bonds.
CA CIB will offer sponsored access to the platform through its membership, allowing institutional clients to trade directly on the order book. MTS Credit, a multilateral trading facility (MTF), will offer pre- and post-trade anonymity in addition to permitting a range of trading strategies. The platform is designed to be compliant with incoming European Union reforms on the electronic trading of fixed-income instruments, and uses MTS' BondVision distribution technology.
"This initiative is leading the way for a European solution in this space and is a major step forward for credit markets," says Mariano Goldfischer, head of global debt markets at CA CIB. "The timing is also right to bring the benefits of e-trading to this space ─ with the associated transparency, price discovery and audit trail required in European fixed income trading."
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