Trax is a leading provider of capital market data, trade matching and regulatory reporting services to the global securities market. In 2016 Trax processed 1.2 billion transactions on behalf of its user community and has over 30 years’ experience in providing innovative, secure and reliable systems for the financial services sector. Trax estimates that it processes approximately 65% of all fixed income transactions in Europe as part of its post-trade service offering.
Trax provides capital market firms with information to assist them in conducting net asset valuations, mark-to-market calculations, fixed-income portfolio mapping, liquidity and volume modelling, as well as reference data population updates. Trax also provides a wide range of pricing data for approximately 70,000 unique bonds, volume data on over 52,000 individual bonds as well as securities reference data for over 301,000 government bonds, corporate bonds, medium-term notes and private derivative issues.
Under the Markets in Financial Instruments Directive (MiFID), Trax is an Approved Reporting Mechanism (ARM) to the UK Financial Conduct Authority (FCA) and other European regulators and will continue its ARM regulatory status to comply with MiFID II. Trax is planning on registering as an Approved Publication Arrangement (APA) and also working in close collaboration with the industry to develop unique tools for Systematic Internaliser (SI) determination under MiFID II.
Trax is based in London. The company was originally established in 1985 and began trading as Trax in May 2014. In February 2013 the company - then known as Xtrakter Ltd. - became a wholly owned subsidiary of MarketAxess Holdings Inc., the operator of a leading global fixed income electronic trading platform.
Trax has registered offices in the United Kingdom and is regulated by the FCA as an approved service company (FRN 491843).