The Cassiopeia Committee was established in early 2010 to implement recommendations for the introduction of corporate bond platforms in Europe.
MTS said that its proposed market would be open for the listing and trading of Euro-denominated debt instruments and would operate on an electronic order-driven model.
It would be managed by the EuroMTS multilateral trading facility (MTF), and use MTS’s high capacity, low latency, Cash Market Facility (CMF) technology.
MTS CEO Jack Jeffery said that MTS has an ongoing dialogue with its customers, and will be working closely with them to assess MTS proposed platform. This will ensure the platform is built on a suitable model, capable of attracting good levels of liquidity.
MTS currently operates electronic market for the trading of government debt securities, issued by 14 separate countries. It has over 500 counterparties and sees an average daily turnover of €85bn.
