Sale price range is indicated at $600 million to $700 million
Mortgage originators can now trade alongside other secondary market participants
The deal pairs MarketAxess's trading technology with the liquidity of a large electronic inter-dealer market.
Tradeweb CEO Lee Olesky says firm is well positioned to provide access to a broad range of liquidity sources.
Monetary policy program supports liquidity in credit by purchasing individual corporate bonds and ETFs.
Strong issuance in U.S. Treasuries, mortgages and credit helped offset lower volatility in swaps markets.
The standardized nature of exchange-for-physical trading makes the market well-suited for more automation.
An efficient electronic market is essential to ensuring transparent and robust liquidity in long-dated bonds.
Portfolio trading has emerged as a go-to mechanism to buy or sell many bonds at once.