MarketAxess SEF and Traiana Complete First Live Trade With Pre-Trade Credit Checks

MarketAxess SEF and Traiana Complete First Live Trade With Pre-Trade Credit
Checks

NEW YORK, Sept. 26, 2013 (GLOBE NEWSWIRE) -- Traiana and MarketAxess SEF
Corporation today announce the completion of the first live credit default
swap (CDS) index trade using Traiana's CreditLink service as the credit hub to
verify pre-trade credit limits. JP Morgan acted as the clearing member for the
major buy-side participant on the trade.

Under the Commodity Futures Trading Commission (CFTC) Swap Execution Facility
(SEF) rules a clearing member must carry out pre-trade credit checks on trades
prior to execution. CreditLink acts as a centralized hub and provides trading
platforms, clearers/prime brokers, executing banks and buy-side firms the
ability to monitor and manage pre- and post-trade credit in real-time across
multiple trading venues in a consolidated view.

MarketAxess (Nasdaq:MKTX) is the first trading platform to have been granted
temporary registration as a SEF to be fully integrated and live with
CreditLink, and the first platform on which a live trade was conducted with
pre-trade credit checking via a credit hub.

Kevin McPherson, Head of U.S. Sales at MarketAxess, said: "The completion of
this trade with a major buy-side participant and JP Morgan, using Traiana as a
credit hub, is an important milestone in the implementation of the new SEF
rules. A seamless credit checking process is critical in helping participants
maintain liquidity in the swap markets. We have been working hard with all of
the participants on our platform and the industry as whole to ensure the
necessary infrastructure is in place well ahead of the SEF trading mandate."

Nick Solinger, Head of Product Strategy and Chief Marketing Officer, Traiana
added: "This trade represents the significant investment the entire industry
has made into ensuring the transition to SEF trading is smooth for clients and
we are delighted that the process has been so seamless with MarketAxess. JP
Morgan and MarketAxess have been leaders in building the infrastructure for
certainty of execution and we look forward to working with them across our
mutual client bases."

"Our clients require efficient and effective pre-trade credit checking
processes," said Andres Choussy, global co-head of OTC clearing for J.P.
Morgan. "In volatile markets, you can't afford to have your trade cancelled
post execution, which is why we will continue working with Traiana,
MarketAxess and the broader industry to ensure that each party to an
electronic transaction has clearing commitments from their FCMs and the
clearinghouses before their trade is executed."

About CreditLink

CreditLink provides trading platforms, clearers/prime brokers, executing banks
and buy-side firms the ability to monitor and manage pre- and post-trade
credit in real-time across multiple trading venues in a consolidated view.
CreditLink supports all trading models across FX, exchange traded derivatives,
CDS and fixed income and serves hundreds of buyside, broker, prime-brokers and
trading venues.

About Traiana

Traiana, Inc. (www.traiana.com) provides global banks, broker/dealers,
buy-side firms and trading platforms with services to monitor pre- trade risk
and automate post-trade processing of financial transactions in listed and
over-the-counter trading markets. Traiana's solutions and the Harmony Network
have become the market standard for post-trade processing of foreign exchange,
exchange traded derivatives, fixed income, CDS and synthetic and cash equity
transactions. Traiana, an ICAP company, is headquartered in New York City with
offices in Chicago, Hong Kong, London, Tel Aviv and Tokyo.

About MarketAxess

MarketAxessoperates a leading electronic trading platform that enables
fixed-income market participants to efficiently trade corporate bonds and
other types of fixed-income instruments usingMarketAxess'patented trading
technology. Over 1,000 institutional investor and broker-dealer firms are
active users of theMarketAxesstrading platform, accessing global liquidity
in U.S. high-grade corporate bonds, European bonds, high-yield and emerging
markets bonds, agency bonds, asset-backed and preferred securities and credit
default swaps.MarketAxess SEF Corporation has received temporary approval
from theU.S. Commodity Futures Trading Commissionto operate a swap execution
facility.MarketAxessalso offers a number of trading-related products and
services, including: market data to assist clients with trading decisions;
connectivity solutions that facilitate straight-through processing; technology
services to optimize trading environments; and execution services for
exchange-traded fund managers and other clients. Through its Xtrakter
subsidiary,MarketAxessalso offers a range of pre- and post-trade services,
including trade matching, regulatory transaction reporting and market and
reference data, across a range of fixed-income products.

MarketAxessmaintains its headquarters inNew Yorkand has offices
inLondon,Chicago,Salt Lake City,Hong Kong,Singaporeand São Paulo. For
more information, please visitwww.marketaxess.com.

CONTACT: MEDIA CONTACTS:
         MarketAxess
         Florencia Panizza
         +1-212-813-6029
         fpanizza@marketaxess.com
        
         Kyle White
         +44 (0) 20 7709 3219
         kwhite@marketaxess.com
        
         Judi Flynn
         William McBride & Associates
         +1-917-902-8726
         jflynn@wmmcbride.com
        
         Traiana
         Candice Adam
         Argentus PR
         +44 (0)20 7397 2915

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