FTN Financial, a division of First Horizon National, has replaced its recent acquisition of Spear, Leeds & Kellogg’s fixed income business on MarketAxess’ US high-grade platform. The addition of DZ Bank brings the total number of dealers participating on the MarketAxess global platform to 22.
MarketAxess Europe has recently experienced rapid growth, with trading volume in the first nine months of 2004 totaling $59.6bn, as compared to $19.4bn in the comparable period in 2003. Current dealers include Banc of America Securities, Barclays PLC, Bear Stearns, and HSBC.
We are pleased to begin 2005 with the addition of DZ Bank to our European Platform, reinforcing our position as a leader in electronic fixed income trading, said Iain Baillie, head of MarketAxess European operations. At MarketAxess, our focus continues to be on providing our clients with an innovative platform that offers liquidity, transparency and efficiency in the global bond markets.
