MarketAxess Executes First Electronic Indian Government Bond Trade

MarketAxess Holdings Inc. has marked a milestone with the first trade on its new electronic platform for Indian Government Bonds (IGBs), catering specifically to Foreign Portfolio Investors (FPIs) and market makers. The inaugural transaction was executed between BlackRock and Standard Chartered, signaling growing efficiency in India's onshore bond market.

"We are excited to see access to India’s onshore bond market becoming more efficient and scalable," said Jatin Vara, Head of International Trading at BlackRock. "India offers compelling opportunities for foreign investors, especially in its expanding onshore bond market, where continued inclusion in major global indices is fuelling strong investor interest."

Riad Chowdhury, Head of Asia-Pacific at MarketAxess, emphasized the platform's tailored design for institutional needs, predicting increased adoption in coming months.