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MarketAxess just released a key tool for improving how fixed-income ETFs are built, and it could lead to further automation in the market

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The electronic marketplace for corporate bonds has created five indexes to help participants find liquidity.

MarketAxess, the largest electronic marketplace for US corporate bonds, has created a set of indexes to help find the most liquid bonds across sectors.

The largest electronic marketplace for US corporate bonds just launched a set of tools aimed at helping create fixed-income ETFs that will be easier to trade. Chris Concannon, MarketAxess' president and chief operating officer, told Business Insider the new indexes offer better insight into the most heavily-traded bonds that would be ideal for inclusion in ETFs. The five indexes are updated daily and offer measures on price, spread, yield and bid-ask terms.

, brings a fresh perspective to the space. The former president and COO of Cboe Global Markets, is a veteran of electronic trading, having served as CEO of Bats Global Markets, and also spending time at Nasdaq, trading platform Instinet, and market maker Virtu Financial. Concannon said some of the larger ETF players are already looking at liquidity and volume data when forming their products. However, MarketAxess has a unique insight into how many buy and sell orders are open for a given product, what it's pricing at, and what it will cost to trade, he added.

 

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