Money Market and Debt eXchange (MMADX) is an integrated money market and debt trading system. MMADX makes trading money market securities more efficient by automating a manual process and improves risk management by ensuring accurate capture and reporting of transactions. No electronic exchange presently exists for money market securities in Australia where they are traded by telephone.
MMADX will allow banks and asset managers to trade money market securities simply, efficiently and securely. Money market securities include bank bills, treasury bills, certificates of deposit, corporate paper and bond repurchase agreements. This is a $10 trillion a year market in Australia alone.
The first of its kind in Australia and Asia, MMADX is being designed by banks and institutional investors, for banks and institutional investors. MMADX is establishing a secure electronic communication network between banks and institutional asset managers, enabling them to trade in real time via sophisticated trade matching software.
MMADX will launch in Australia in 2012.