MarketAxess was formed in April of 2000 in response to investors' need for a single trading platform with easy access to multi-dealer research, new issues, and competitive pricing in a wide range of credit products. We launched trading on our electronic platform with eight broker-dealer clients and approximately 60 institutional investor clients. We have consistently added new clients to our trading platform, increasing the number of broker-dealer clients to 30 and the number of institutional investor firms using our platform to over 675. MarketAxess currently offers electronic trading in U.S. high-grade, high yield, emerging markets, agencies, Eurobonds and CDS.