MTS, Europe’s premier facilitator for the electronic fixed income market, announced today that it has launched an electronic market for UK government bonds, or Gilts.
MTS is the first technology provider to facilitate both the interdealer and dealer-to-client Gilt markets. Gilt Edged Market Makers (GEMMs) on the interdealer MTS Cash platform will also provide liquidity on the MTS BondVision multi-dealer-to-client platform.
The UK joins the primary and secondary government bond markets of 16 other European countries already trading on MTS. Several leading international banks have already declared their intention to participate in the new market.
Jack Jeffery, Chief Executive of MTS, said:
“The launch of this platform marks a great step forward for the UK sovereign debt market, which continues to see a rapid evolution. There is an increased focus on transparency and regulation, and the number of GEMMs operating in the space has now grown to 20. As a result there is an increasing demand to trade Gilts electronically, in a marketplace which improves on the efficiencies of voice broking. As a regulated and transparent, electronic platform, MTS is well placed to facilitate this changing landscape. We look forward to improving liquidity, efficiency and transparency in the Gilt market, to the benefit of all participants.”
MTS has a proven track record of delivering regulated, orderly and efficient platforms across European debt markets. In recent weeks MTS has added to the number of government debt markets it facilitates with the launch of platforms in Hungary and the Czech Republic.