AxeChange is the software to power execution venues for fixed income products and enables the trading of government, corporate, sukuk and retail bonds across major and local currencies. It connects to the full range of local and international capital market participants through a range of front-end user interfaces including the AxeTrader Quoting and Execution Management System, the web, and other platforms via the FIX protocol.
AxeTrading does not compete with trading venues, but partners with them to deliver an efficient, effective and modern fixed income trading experience that enhances and develops their local bond markets to meet their commercial objectives and those set by governments, financial authorities, and bond market associations.
AxeTrading has collaborated with a number of exchanges to enhance and develop their local bond markets to meet their commercial objectives and those set by governments, financial authorities, and bond market associations.
Exchanges have to innovate their bond trading offering and effectively embrace both voice and electronic trading in order to increase the size and number of market participants, drive interest from new debt issuers and to better meet growing local funding requirements.
Working with International Finance Corporation, part of the World Bank Group, as a strategic partner, AxeTrading continues to accelerate the evolution of fixed income markets by delivering advanced technology for dealers and trading venues to broaden participation, which provides liquidity and market transparency.
Building on AxeTrading’s exceptional market knowledge and proven award-winning technology, AxeChange supports fixed income quote distribution of axes, firm and indicative quoting to negotiate trades using either a central counterparty or bilateral settlement including a counterparty switching facility to open up further liquidity. AxeChange supports anonymous and name-give trading methods for established trading protocols such as Request for Quote, Request for Order and a Centralized Order Book (click-to-trade).
AxeChange supports credit and counterparty risk management processes, with monitoring and reporting to fulfill local and international regulatory requirements to provide a fair and transparent market for all participants.
The software is delivered through a web based HTML5 user interface and also has FIX connectivity to allow users to plug in their existing architecture and access AxeTrader and other frontend solutions.