MarketAxess Announces Trading Volume Statistics for September and Third Quarter 2024
MarketAxess Holdings (Nasdaq: MKTX), a leading electronic trading platform for fixed-income securities, reported record trading volumes for September and Q3 2024.
Key Highlights:
- Record total average daily volume (ADV) of $45.2 billion in September, up 52.5% YoY.
- Total credit ADV of $16.5 billion, up 40.1% YoY.
- U.S. high-grade ADV of $8.4 billion, up 56.2% YoY.
- U.S. high-yield ADV of $1.4 billion, up 8.1% YoY.
- Portfolio trading ADV reached $1.1 billion.
- Open Trading ADV of $4.8 billion, up 46.8% YoY.
- Municipal bond ADV of $577 million, up 35.1% YoY.
- Total rates ADV of $28.7 billion, up 60.7% YoY.
- Preliminary variable transaction fees per million (FPM) for total credit at $150, slightly down from $151 YoY.
CEO Chris Concannon highlighted the robust market volumes, strong new issue calendar, and the successful roll-out of X-Pro to their global client base as key drivers of growth.
MarketAxess Holdings (Nasdaq: MKTX), una delle principali piattaforme di trading elettronico per titoli a reddito fisso, ha riportato volumi di trading record per settembre e il terzo trimestre del 2024.
Principali risultati:
- Volume medio giornaliero totale (ADV) record di 45,2 miliardi di dollari a settembre, in aumento del 52,5% rispetto all'anno precedente.
- ADV totale per il credito di 16,5 miliardi di dollari, in crescita del 40,1% su base annua.
- ADV per titoli di prima qualit脿 negli Stati Uniti di 8,4 miliardi di dollari, in aumento del 56,2% rispetto all'anno scorso.
- ADV per titoli ad alto rendimento negli Stati Uniti di 1,4 miliardi di dollari, in aumento dell'8,1% rispetto all'anno precedente.
- ADV per trading di portafoglio ha raggiunto 1,1 miliardi di dollari.
- ADV per trading aperto di 4,8 miliardi di dollari, in crescita del 46,8% su base annua.
- ADV per obbligazioni municipali di 577 milioni di dollari, in aumento del 35,1% rispetto all'anno precedente.
- ADV totale per i tassi di interesse di 28,7 miliardi di dollari, in aumento del 60,7% su base annua.
- Tariffe variabili preliminari per transazione per milione (FPM) per il credito totale fissate a 150 dollari, leggermente in calo rispetto ai 151 dollari dell'anno precedente.
Il CEO Chris Concannon ha evidenziato i robusti volumi di mercato, il forte calendario di nuove emissioni e il successo nel lancio di X-Pro per la loro clientela globale come principali motori di crescita.
MarketAxess Holdings (Nasdaq: MKTX), una de las principales plataformas de negociaci贸n electr贸nica para valores de renta fija, inform贸 vol煤menes de negociaci贸n r茅cord para septiembre y el tercer trimestre de 2024.
Aspectos destacados:
- Volumen medio diario total (ADV) r茅cord de 45,2 mil millones de d贸lares en septiembre, un 52,5% m谩s que el a帽o anterior.
- ADV total de cr茅dito de 16,5 mil millones de d贸lares, un aumento del 40,1% interanual.
- ADV de alta calidad en EE. UU. de 8,4 mil millones de d贸lares, un 56,2% m谩s que el a帽o pasado.
- ADV de alto rendimiento en EE. UU. de 1,4 mil millones de d贸lares, un 8,1% m谩s que el a帽o anterior.
- ADV de negociaci贸n de cartera alcanz贸 1,1 mil millones de d贸lares.
- ADV de negociaci贸n abierta de 4,8 mil millones de d贸lares, un aumento del 46,8% interanual.
- ADV de bonos municipales de 577 millones de d贸lares, un aumento del 35,1% con respecto al a帽o pasado.
- ADV total de tasas de inter茅s de 28,7 mil millones de d贸lares, un aumento del 60,7% interanual.
- Tarifas de transacci贸n variables preliminares por mill贸n (FPM) para el cr茅dito total en 150 d贸lares, ligeramente por debajo de 151 d贸lares del a帽o pasado.
El CEO Chris Concannon destac贸 los s贸lidos vol煤menes de mercado, el calendario de nuevas emisiones fuerte y el exitoso lanzamiento de X-Pro a su base de clientes global como motores clave de crecimiento.
MarketAxess Holdings (Nasdaq: MKTX)電� 瓿犾爼 靾橃澋 歃濌秾鞚� 鞙勴暅 靹犽弰鞝侅澑 鞝勳瀽 瓯半灅 頂岆灚韽检溂搿�, 2024雲� 9鞗� 氚� 3攵勱赴 瓯半灅霟夓澊 旮半鞚� 瓴届嫚頄堧嫟瓿� 氤搓碃頄堨姷雼堧嫟.
欤检殧 雮挫毄:
- 9鞗� 韽夑窢 鞚检澕 瓯半灅霟�(ADV)鞚� 452鞏� 雼煬搿�, 鞝勲厔 雽�牍� 52.5% 歃濌皜頄堨姷雼堧嫟.
- 齑� 鞁犾毄 ADV電� 165鞏� 雼煬搿�, 鞝勲厔 雽�牍� 40.1% 歃濌皜頄堨姷雼堧嫟.
- 氙戈淡 瓿犼笁 ADV電� 84鞏� 雼煬搿�, 鞝勲厔 雽�牍� 56.2% 歃濌皜頄堨姷雼堧嫟.
- 氙戈淡 瓿犾垬鞚� ADV電� 14鞏� 雼煬搿�, 鞝勲厔 雽�牍� 8.1% 歃濌皜頄堨姷雼堧嫟.
- 韽姼韽措Μ鞓� 瓯半灅 ADV電� 11鞏� 雼煬鞐� 霃勲嫭頄堨姷雼堧嫟.
- 鞓ろ攬 瓯半灅 ADV電� 48鞏� 雼煬搿�, 鞝勲厔 雽�牍� 46.8% 歃濌皜頄堨姷雼堧嫟.
- 歆�氚╈眲 ADV電� 5鞏� 7700毵� 雼煬搿�, 鞝勲厔 雽�牍� 35.1% 歃濌皜頄堨姷雼堧嫟.
- 齑� 旮堧Μ ADV電� 287鞏� 雼煬搿�, 鞝勲厔 雽�牍� 60.7% 歃濌皜頄堨姷雼堧嫟.
- 齑� 鞁犾毄鞐� 雽�頃� 氚彪雼� 氤�霃� 瓯半灅 靾橃垬耄�(FPM)電� 150雼煬搿�, 鞝勲厔 雽�牍� 151雼煬鞐愳劀 靻岉彮 頃橂澖頄堨姷雼堧嫟.
CEO Chris Concannon鞚� 瓴碃頃� 鞁滌灔 瓯半灅霟�, 臧曤牓頃� 鞁犼窚 氚滍枆 鞚检爼, 攴鸽Μ瓿� 旮�搿滊矊 瓿犼皾 旮半皹鞐� 雽�頃� X-Pro鞚� 靹标车鞝� 於滌嫓臧� 靹膘灔鞚� 欤检殧 鞗愲彊霠レ澊霛缄碃 臧曥“頄堨姷雼堧嫟.
MarketAxess Holdings (Nasdaq: MKTX), une plateforme de n茅gociation 茅lectronique de premier plan pour les titres 脿 revenu fixe, a annonc茅 des volumes de n茅gociation records pour septembre et le troisi猫me trimestre 2024.
Points cl茅s :
- Volume moyen quotidien total (ADV) record de 45,2 milliards de dollars en septembre, en hausse de 52,5 % par rapport 脿 l'ann茅e pr茅c茅dente.
- ADV total du cr茅dit de 16,5 milliards de dollars, en hausse de 40,1 % par rapport 脿 l'ann茅e pr茅c茅dente.
- ADV de haute qualit茅 aux 脡tats-Unis de 8,4 milliards de dollars, en hausse de 56,2 % par rapport 脿 l'ann茅e pr茅c茅dente.
- ADV 脿 haut rendement aux 脡tats-Unis de 1,4 milliard de dollars, en hausse de 8,1 % par rapport 脿 l'ann茅e pr茅c茅dente.
- ADV de n茅gociation de portefeuille de 1,1 milliard de dollars.
- ADV de n茅gociation ouverte de 4,8 milliards de dollars, en hausse de 46,8 % par rapport 脿 l'ann茅e pr茅c茅dente.
- ADV des obligations municipales de 577 millions de dollars, en hausse de 35,1 % par rapport 脿 l'ann茅e pr茅c茅dente.
- ADV total des taux d'int茅r锚t de 28,7 milliards de dollars, en hausse de 60,7 % par rapport 脿 l'ann茅e pr茅c茅dente.
- Frais de transaction variables pr茅liminaires par million (FPM) pour le cr茅dit total 脿 150 dollars, l茅g猫rement en baisse par rapport 脿 151 dollars l'ann茅e pr茅c茅dente.
Le CEO Chris Concannon a soulign茅 les volumes de march茅 robustes, le calendrier solide des nouvelles 茅missions et le lancement r茅ussi de X-Pro aupr猫s de leur client猫le mondiale comme moteurs de croissance cl茅s.
MarketAxess Holdings (Nasdaq: MKTX), eine f眉hrende elektronische Handelsplattform f眉r festverzinsliche Wertpapiere, berichtete von Rekordhandelsvolumen f眉r September und das dritte Quartal 2024.
Wichtige Highlights:
- Rekordm盲脽iges durchschnittliches t盲gliches Handelsvolumen (ADV) von 45,2 Milliarden US-Dollar im September, das im Vergleich zum Vorjahr um 52,5% gestiegen ist.
- Gesamt-ADV f眉r Kredit betr盲gt 16,5 Milliarden US-Dollar, was einem Anstieg von 40,1% gegen眉ber dem Vorjahr entspricht.
- US-High-Grade-ADV von 8,4 Milliarden US-Dollar, was einem Anstieg von 56,2% im Jahresvergleich entspricht.
- US-High-Yield-ADV von 1,4 Milliarden US-Dollar, ein Anstieg von 8,1% im Vergleich zum Vorjahr.
- Portfolio-Handels-ADV erreichte 1,1 Milliarden US-Dollar.
- Open Trading ADV von 4,8 Milliarden US-Dollar, ein Anstieg von 46,8% im Jahresvergleich.
- ADV f眉r Kommunalanleihen von 577 Millionen US-Dollar, ein Anstieg von 35,1% im Jahresvergleich.
- Gesamt-ADV f眉r Zinsen von 28,7 Milliarden US-Dollar, was einen Anstieg von 60,7% im Vergleich zum Vorjahr darstellt.
- Vorl盲ufige variable Transaktionsgeb眉hren pro Million (FPM) f眉r das Gesamtkreditvolumen liegen bei 150 US-Dollar, leicht gesunken von 151 US-Dollar im Vorjahr.
CEO Chris Concannon hob die robusten Marktvolumina, den starken Kalender neuer Emissionen und die erfolgreiche Einf眉hrung von X-Pro f眉r ihre globale Kundenbasis als wichtige Wachstumsfaktoren hervor.
- Record total ADV of $45.2 billion in September, up 52.5% YoY.
- Total credit ADV of $16.5 billion, up 40.1% YoY.
- U.S. high-grade ADV of $8.4 billion, up 56.2% YoY.
- U.S. high-yield ADV of $1.4 billion, up 8.1% YoY.
- Portfolio trading ADV reached $1.1 billion.
- Open Trading ADV of $4.8 billion, up 46.8% YoY.
- Municipal bond ADV of $577 million, up 35.1% YoY.
- Total rates ADV of $28.7 billion, up 60.7% YoY.
- Preliminary variable transaction fees per million (FPM) for total credit at $150, slightly down from $151 YoY.
- Estimated market share for U.S. high-yield fell to 12.1% from 15.4% YoY.
Insights
- Record total credit ADV of
$16.5 billion in September, up 40.1% YoY - U.S. high-grade ADV of
$8.4 billion in September, up 56.2% YoY - Emerging markets ADV of
$3.7 billion in September, up 25.1% YoY - Record portfolio trading ADV of
$1.5 billion in September, up 191.8% YoY
1. Accelerating electronification: The substantial growth in MarketAxess' volumes, outpacing overall market growth in some segments, indicates a continued shift towards electronic trading in fixed income markets.
2. Portfolio trading surge: The
3. Open Trading expansion: Open Trading ADV grew
4. Municipal bond market share gains: MarketAxess achieved a record
Strong Growth in Market Volume Drove Record Levels of Trading Activity Across the Platform in September
Chris Concannon, CEO of MarketAxess, commented:
鈥淪trong market volumes and a robust new issue calendar helped drive an increase in the velocity of electronic trading and record levels of trading activity in September across our platform. Against this improving market backdrop, in 3Q24 we delivered
Select September 2024 Highlights
-
Record total average daily volume (鈥淎DV鈥�) of
$45.2 billion 52.5% compared to the prior year, and increased8.6% compared to August 2024. These strong results were driven by record total credit ADV of$16.5 billion 40.1% compared to the prior year, and an increase of24.4% compared to August 2024. Total rates ADV of$28.7 billion 60.7% compared to the prior year, and increased1.2% compared to August 2024 levels, also contributed to the strong performance in September 2024.
-
Record
U.S. high-grade ADV of$8.4 56.2% compared to the prior year, and increased25.5% compared to August 2024. Estimated market ADV increased53.3% compared to the prior year, and increased26.1% compared to August 2024. Estimated market share was19.9% , up from19.5% in the prior year, and in line with19.9% in August 2024. Including the impact of single-dealer portfolio trades, estimated market share was20.3% , up from19.5% in the prior year, but down from20.9% in August 2024.
鈥� TheU.S. high-grade new issue calendar was$171.0 billion 36.7% compared to the prior year, and up58.5% compared to August 2024.
-
U.S. high-yield ADV of$1.4 billion 8.1% compared to the prior year, and increased11.5% compared to August 2024. Estimated market ADV increased37.3% compared to the prior year, and increased32.4% compared to August 2024. Estimated market share was12.1% (12.5% including single-dealer portfolio trades), down from15.4% in the prior year, and down from14.4% (14.6% including single-dealer portfolio trades) in August 2024.
鈥� TheU.S. high-yield new issue calendar was$36.7 56.1% compared to the prior year, and an increase of102.8% compared to August 2024.
Other Credit
-
Emerging markets ADV of
$3.7 billion 25.1% compared to the prior year, and increased15.8% compared to August 2024. The year-over-year increase was driven by a40.4% increase in hard currency ADV, and an8.7% increase in local currency ADV. -
Record Eurobonds ADV of
$2.4 billion 42.3% compared to the prior year, and increased58.5% compared to August 2024. -
Municipal bond ADV of
$577 million 35.1% compared to the prior year, but declined0.5% compared to August 2024. Estimated market ADV decreased16.6% compared to the prior year, and decreased3.4% compared to August 2024. Record estimated market share of8.8% , up from5.5% in the prior year, and up from8.6% in August 2024.3
Strategic Priority Related Protocols & Workflow Tools
-
Record
$1.5 billion 191.8% compared to the prior year, and increased52.3% compared to August 2024. Our estimated market share ofU.S. high-grade andU.S. high-yield TRACE portfolio trading was20.8% in September 2024, down from21.8% in August 2024, but up from17.2% in July 2024. Portfolio trading represented11.8% ofU.S. high-grade andU.S. high-yield TRACE in September 2024, compared to9.5% in August 2024. -
Record Open Trading ADV of
$4.8 billion 46.8% compared to the prior year, and increased21.6% compared to August 2024. Open Trading share4 of total credit trading volume was35% , up from33% in the prior year, but down from36% in August 2024. -
Record Dealer RFQ ADV of
$1.5 billion 55.4% compared to the prior year, and increased36.8% compared to August 2024. -
AxessIQ, the order and execution workflow solution designed for wealth management and private banking clients, achieved record ADV of
$166 million 51.8% compared to the prior year, and up47.7% compared to August 2024.
Rates
-
Total rates ADV of
$28.7 billion 60.7% compared to the prior year, and up1.2% compared to August 2024.
Variable Transaction Fees Per Million (FPM)1
-
The preliminary FPM for total credit for September 2024 was approximately
$150 $151 $153 $4.18 $4.75 $4.04
Select 3Q24 Highlights
-
Record total ADV of
$40.5 billion 38.4% compared to the prior year, and increased18.6% compared to 2Q24. These strong results were driven by total credit ADV of$14.1 billion 26.5% compared to the prior year, and an increase of2.7% compared to 2Q24 levels. Strong growth in total rates ADV, which increased45.6% compared to the prior year, and increased29.2% compared to 2Q24, also contributed to the strong performance in 3Q24.
-
U.S. high-grade ADV of$7.0 35.7% compared to the prior year, and increased9.2% compared to 2Q24. Estimated market ADV increased39.4% compared to the prior year, and increased5.1% compared to 2Q24. Estimated market share was19.5% , down from20.0% in the prior year, but up from18.7% in 2Q24. Including the impact of single-dealer portfolio trades, estimated market share was20.0% , in line with20.1% in the prior year, but up from19.2% in 2Q24. -
U.S. high-yield ADV of$1.3 billion 1.2% compared to the prior year, and decreased4.4% compared to 2Q24. Estimated market ADV increased22.6% compared to the prior year, but decreased0.5% compared to 2Q24. Estimated market share was13.0% (13.4% including single-dealer portfolio trades), down from16.1% in the prior year, and down from13.5% (13.8% including single-dealer portfolio trades) in 2Q24.
Other Credit
-
Emerging markets ADV of
$3.3 billion 19.1% compared to the prior year, but decreased0.1% compared to 2Q24. The year-over-year increase was driven by a19.8% increase in hard currency ADV, and an18.0% increase in local currency ADV. -
Eurobonds ADV of
$1.9 billion 27.4% compared to the prior year, but decreased10.1% compared to 2Q24. -
Record Municipal bond ADV of
$577 million 48.7% compared to the prior year, and increased10.5% compared to 2Q24. Estimated market ADV was down5.4% compared to the prior year, and down5.7% compared to 2Q24. Record estimated market share of8.7% , up from5.5% in the prior year, and up from7.4% in 2Q24.3
Strategic Priority Related Protocols & Workflow Tools
-
Record
$1.1 billion 162.8% compared to the prior year, and up30.8% compared to 2Q24. Our estimated market share ofU.S. high grade andU.S. high-yield TRACE portfolio trading was20.0% in 3Q24. Portfolio trading represented an estimated10.7% ofU.S. high-grade andU.S. high-yield TRACE in 3Q24. -
35% Open Trading share4 of total credit trading volume, up from34% in the prior year, and up from34% in 2Q24. -
Dealer RFQ ADV of
$1.2 billion 25.9% compared to the prior year, and was in line with 2Q24 levels. -
AxessIQ achieved ADV of
$131 million 32.2% compared to the prior year, but down2.8% compared to 2Q24.
Rates
-
Record total rates ADV of
$26.4 billion 45.6% compared to the prior year, and up29.2% compared to the 2Q24.
Variable Transaction Fees Per Million (FPM)1
-
The preliminary FPM for total credit for 3Q24 was approximately
$149 $155 $148 U.S. high-yield activity and increased portfolio trading. The preliminary FPM for total rates was approximately$4.15 $4.56 $4.45
Table 1: Trading records
Trading Records for the Period: |
|
September 2024 |
3Q24 |
Total trading ADV ( |
Total trading ADV ( |
Total credit trading ADV ( |
Municipal bonds ADV ( |
|
Municipal bonds estimated market share ( |
Eurobonds ADV ( |
Portfolio trading ADV ( |
Municipal bonds estimated market share ( |
Total rates ADV ( |
Portfolio trading ADV ( |
|
Open Trading ADV ( |
|
Dealer RFQ ADV ( |
|
AxessIQ ADV ( |
|
Table 1A: September 2024 ADV
CREDIT |
RATES |
||||||||||
$ in millions (unaudited) |
US/ Trading Days5 |
Total ADV |
Total Credit |
High-Grade |
High-Yield |
Emerging Markets |
Eurobonds |
Municipal Bonds |
Total Rates |
US Govt. Bonds |
Agcy./Other Govt. Bonds |
Sep-24 |
20/21 |
|
|
|
|
|
|
|
|
|
|
Aug-24 |
22/21 |
|
|
|
|
|
|
|
|
|
|
Sep-23 |
20/21 |
|
|
|
|
|
|
|
|
|
|
YoY % Change |
听 |
|
|
|
|
|
|
|
|
|
|
MoM % Change |
听 |
|
|
|
|
|
|
( |
|
|
|
Table 1B: September 2024 estimated market share
CREDIT |
RATES |
||||
(unaudited) |
High-Grade |
High-Yield |
High-Grade/High-Yield Combined |
Municipals3 |
US Govt. Bonds3 |
Sep-24 |
|
|
|
|
|
Aug-24 |
|
|
|
|
|
Sep-23 |
|
|
|
|
|
YoY Bps Change |
+40 bps |
(330) bps |
(30) bps |
+330 bps |
+50 bps |
MoM Bps Change |
- bps |
(230) bps |
(60) bps |
+20 bps |
+10 bps |
Table 1C: 3Q24 ADV
CREDIT |
RATES |
||||||||||
$ in millions (unaudited) |
US/ Trading Days5 |
Total ADV |
Total Credit |
High-Grade |
High-Yield |
Emerging Markets |
Eurobonds |
Municipal Bonds |
Total Rates |
US Govt. Bonds |
Agcy./Other Govt. Bonds |
3Q24 |
64/65 |
|
|
|
|
|
|
|
|
|
|
2Q24 |
63/61 |
|
|
|
|
|
|
|
|
|
|
3Q23 |
63/64 |
|
|
|
|
|
|
|
|
|
|
YoY % Change |
听 |
|
|
|
( |
|
|
|
|
|
|
QoQ % Change |
听 |
|
|
|
( |
( |
( |
|
|
|
|
Table 1D: 3Q24 estimated market share
CREDIT |
RATES |
||||
(unaudited) |
High-Grade |
High-Yield |
High-Grade/High-Yield Combined |
Municipals3 |
US Govt. Bonds3 |
3Q24 |
|
|
|
|
|
2Q24 |
|
|
|
|
|
3Q23 |
|
|
|
|
|
YoY Bps Change |
(50) bps |
(310) bps |
(100) bps |
+320 bps |
+10 bps |
QoQ Bps Change |
+80 bps |
(50) bps |
+50 bps |
+130 bps |
+30 bps |
1 |
The FPM for total credit and total rates for September 2024 and 3Q24 are preliminary and may be revised in subsequent updates and public filings. The Company undertakes no obligation to update any fee information in future press releases. |
2 |
The Company is highlighting the impact of single-dealer portfolio trading volume on |
3 |
See 鈥淕eneral Notes Regarding the Data Presented鈥� below. |
4 |
Open Trading share of total credit trading volume is derived by taking total Open Trading volume across all credit products where Open Trading is offered and dividing by total credit trading volume across all credit products where Open Trading is offered. |
5 |
The number of |
General Notes Regarding the Data Presented
Reported MarketAxess volume in all product categories includes only fully electronic trading volume. MarketAxess trading volumes and the Financial Industry Regulatory Authority (鈥淔INRA鈥�) Trade Reporting and Compliance Engine (鈥淭RACE鈥�) reported volumes are available on the Company鈥檚 website at .
For periods beginning with January 2024, the Company has made changes to the market volume data used to calculate estimated market share for Municipal and
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including statements about the outlook and prospects for the Company, market conditions and industry growth, as well as statements about the Company鈥檚 future financial and operating performance. These and other statements that relate to future results and events are based on MarketAxess鈥� current expectations. The Company鈥檚 actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including: global economic, political and market factors; the level of trading volume transacted on the MarketAxess platform; the rapidly evolving nature of the electronic financial services industry; the level and intensity of competition in the fixed-income electronic trading industry and the pricing pressures that may result; the variability of our growth rate; our ability to introduce new fee plans and our clients鈥� response; our ability to attract clients or adapt our technology and marketing strategy to new markets; risks related to our growing international operations; our dependence on our broker-dealer clients; the loss of any of our significant institutional investor clients; our exposure to risks resulting from non-performance by counterparties to transactions executed between our clients in which we act as an intermediary in matched principal trades; risks related to self-clearing; risks related to sanctions levied against states or individuals that could expose us to operational or regulatory risks; the effect of rapid market or technological changes on us and the users of our technology; our dependence on third-party suppliers for key products and services; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business interruptions; the occurrence of design defects, errors, failures or delays with our platforms, products or services; our vulnerability to malicious cyber-attacks and attempted cybersecurity breaches; our actual or perceived failure to comply with privacy and data protection laws; our ability to protect our intellectual property rights or technology and defend against intellectual property infringement or other claims; our ability to enter into strategic alliances and to acquire other businesses and successfully integrate them with our business; our dependence on our management team and our ability to attract and retain talent; limitations on our flexibility because we operate in a highly regulated industry; the increasing government regulation of us and our clients; risks related to the divergence of
About MarketAxess
MarketAxess (Nasdaq: MKTX) operates a leading electronic trading platform that delivers greater trading efficiency, a diversified pool of liquidity and significant cost savings to institutional investors and broker-dealers across the global fixed-income markets. Over 2,000 firms leverage MarketAxess鈥� patented technology to efficiently trade fixed-income securities. Our automated and algorithmic trading solutions, combined with our integrated and actionable data offerings, help our clients make faster, better-informed decisions on when and how to trade on our platform. MarketAxess鈥� award-winning Open Trading庐 marketplace is widely regarded as the preferred all-to-all trading solution in the global credit markets. Founded in 2000, MarketAxess connects a robust network of market participants through an advanced full trading lifecycle solution that includes automated trading solutions, intelligent data and index products and a range of post-trade services. Learn more at and on X .
Table 2: Trading Volume Detail |
听 |
听 |
|||||||||||||||||||||||||
听 |
听 |
听 |
Month Ended September 30, |
听 |
听 |
||||||||||||||||||||||
In millions (unaudited) |
听 |
听 |
2024 |
听 |
听 |
2023 |
听 |
听 |
% Change |
听 |
听 |
||||||||||||||||
听 |
听 |
听 |
Volume |
听 |
听 |
ADV |
听 |
听 |
Volume |
听 |
听 |
听 |
ADV |
听 |
听 |
Volume |
听 |
听 |
ADV |
听 |
听 |
||||||
Credit |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
High-grade |
听 |
听 |
$ |
168,278 |
听 |
听 |
$ |
8,414 |
听 |
听 |
$ |
107,768 |
听 |
听 |
听 |
$ |
5,388 |
听 |
听 |
听 |
56.1 |
听 |
% |
听 |
56.2 |
听 |
% |
High-yield |
听 |
听 |
听 |
28,671 |
听 |
听 |
听 |
1,434 |
听 |
听 |
听 |
26,516 |
听 |
听 |
听 |
听 |
1,326 |
听 |
听 |
听 |
8.1 |
听 |
听 |
听 |
8.1 |
听 |
听 |
Emerging markets |
听 |
听 |
听 |
73,774 |
听 |
听 |
听 |
3,689 |
听 |
听 |
听 |
58,981 |
听 |
听 |
听 |
听 |
2,949 |
听 |
听 |
听 |
25.1 |
听 |
听 |
听 |
25.1 |
听 |
听 |
Eurobonds |
听 |
听 |
听 |
49,537 |
听 |
听 |
听 |
2,359 |
听 |
听 |
听 |
34,823 |
听 |
听 |
听 |
听 |
1,658 |
听 |
听 |
听 |
42.3 |
听 |
听 |
听 |
42.3 |
听 |
听 |
Other credit |
听 |
听 |
听 |
11,749 |
听 |
听 |
听 |
587 |
听 |
听 |
听 |
8,879 |
听 |
听 |
听 |
听 |
443 |
听 |
听 |
听 |
32.3 |
听 |
听 |
听 |
32.5 |
听 |
听 |
Total credit trading1 |
听 |
听 |
听 |
332,009 |
听 |
听 |
听 |
16,483 |
听 |
听 |
听 |
236,967 |
听 |
听 |
听 |
听 |
11,764 |
听 |
听 |
听 |
40.1 |
听 |
听 |
听 |
40.1 |
听 |
听 |
Rates |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
|
听 |
听 |
听 |
549,317 |
听 |
听 |
听 |
27,466 |
听 |
听 |
听 |
346,626 |
听 |
听 |
听 |
听 |
17,331 |
听 |
听 |
听 |
58.5 |
听 |
听 |
听 |
58.5 |
听 |
听 |
Agency and other government bonds1 |
听 |
听 |
听 |
25,875 |
听 |
听 |
听 |
1,239 |
听 |
听 |
听 |
10,888 |
听 |
听 |
听 |
听 |
530 |
听 |
听 |
听 |
137.6 |
听 |
听 |
听 |
133.8 |
听 |
听 |
Total rates trading |
听 |
听 |
听 |
575,192 |
听 |
听 |
听 |
28,705 |
听 |
听 |
听 |
357,514 |
听 |
听 |
听 |
听 |
17,861 |
听 |
听 |
听 |
60.9 |
听 |
听 |
听 |
60.7 |
听 |
听 |
Total trading |
听 |
听 |
$ |
907,201 |
听 |
听 |
$ |
45,188 |
听 |
听 |
$ |
594,481 |
听 |
听 |
听 |
$ |
29,625 |
听 |
听 |
听 |
52.6 |
听 |
听 |
听 |
52.5 |
听 |
听 |
Number of |
听 |
听 |
听 |
听 |
听 |
听 |
20 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
20 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Number of |
听 |
听 |
听 |
听 |
听 |
听 |
21 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
21 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
Quarter Ended September 30, |
听 |
听 |
||||||||||||||||||||||
In millions (unaudited) |
听 |
听 |
2024 |
听 |
听 |
2023 |
听 |
听 |
% Change |
听 |
听 |
||||||||||||||||
听 |
听 |
听 |
Volume |
听 |
听 |
ADV |
听 |
听 |
Volume |
听 |
听 |
听 |
ADV |
听 |
听 |
Volume |
听 |
听 |
ADV |
听 |
听 |
||||||
Credit |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
High-grade |
听 |
听 |
$ |
449,708 |
听 |
听 |
$ |
7,027 |
听 |
听 |
$ |
326,304 |
听 |
听 |
听 |
$ |
5,179 |
听 |
听 |
听 |
37.8 |
听 |
% |
听 |
35.7 |
听 |
% |
High-yield |
听 |
听 |
听 |
81,761 |
听 |
听 |
听 |
1,278 |
听 |
听 |
听 |
81,511 |
听 |
听 |
听 |
听 |
1,294 |
听 |
听 |
听 |
0.3 |
听 |
听 |
听 |
(1.2 |
) |
听 |
Emerging markets |
听 |
听 |
听 |
213,341 |
听 |
听 |
听 |
3,333 |
听 |
听 |
听 |
176,334 |
听 |
听 |
听 |
听 |
2,799 |
听 |
听 |
听 |
21.0 |
听 |
听 |
听 |
19.1 |
听 |
听 |
Eurobonds |
听 |
听 |
听 |
122,914 |
听 |
听 |
听 |
1,891 |
听 |
听 |
听 |
94,980 |
听 |
听 |
听 |
听 |
1,484 |
听 |
听 |
听 |
29.4 |
听 |
听 |
听 |
27.4 |
听 |
听 |
Other credit |
听 |
听 |
听 |
37,566 |
听 |
听 |
听 |
587 |
听 |
听 |
听 |
25,185 |
听 |
听 |
听 |
听 |
400 |
听 |
听 |
听 |
49.2 |
听 |
听 |
听 |
46.8 |
听 |
听 |
Total credit trading1 |
听 |
听 |
听 |
905,290 |
听 |
听 |
听 |
14,116 |
听 |
听 |
听 |
704,314 |
听 |
听 |
听 |
听 |
11,156 |
听 |
听 |
听 |
28.5 |
听 |
听 |
听 |
26.5 |
听 |
听 |
Rates |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
|
听 |
听 |
听 |
1,619,337 |
听 |
听 |
听 |
25,302 |
听 |
听 |
听 |
1,115,889 |
听 |
听 |
听 |
听 |
17,713 |
听 |
听 |
听 |
45.1 |
听 |
听 |
听 |
42.8 |
听 |
听 |
Agency and other government bonds1 |
听 |
听 |
听 |
71,261 |
听 |
听 |
听 |
1,098 |
听 |
听 |
听 |
26,467 |
听 |
听 |
听 |
听 |
416 |
听 |
听 |
听 |
169.2 |
听 |
听 |
听 |
163.9 |
听 |
听 |
Total rates trading |
听 |
听 |
听 |
1,690,598 |
听 |
听 |
听 |
26,400 |
听 |
听 |
听 |
1,142,356 |
听 |
听 |
听 |
听 |
18,129 |
听 |
听 |
听 |
48.0 |
听 |
听 |
听 |
45.6 |
听 |
听 |
Total trading |
听 |
听 |
$ |
2,595,888 |
听 |
听 |
$ |
40,516 |
听 |
听 |
$ |
1,846,670 |
听 |
听 |
听 |
$ |
29,285 |
听 |
听 |
听 |
40.6 |
听 |
听 |
听 |
38.4 |
听 |
听 |
Number of |
听 |
听 |
听 |
听 |
听 |
听 |
64 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
63 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Number of |
听 |
听 |
听 |
听 |
听 |
听 |
65 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
64 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 听 |
Table 2: Trading Volume Detail (continued) |
听 |
听 |
|||||||||||||||||||||||||
听 |
听 |
听 |
Year-to-Date Ended September 30, |
听 |
听 |
||||||||||||||||||||||
In millions (unaudited) |
听 |
听 |
2024 |
听 |
听 |
2023 |
听 |
听 |
% Change |
听 |
听 |
||||||||||||||||
听 |
听 |
听 |
Volume |
听 |
听 |
ADV |
听 |
听 |
Volume |
听 |
听 |
听 |
ADV |
听 |
听 |
Volume |
听 |
听 |
ADV |
听 |
听 |
||||||
Credit |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
High-grade |
听 |
听 |
$ |
1,311,146 |
听 |
听 |
$ |
6,974 |
听 |
听 |
$ |
1,072,258 |
听 |
听 |
听 |
$ |
5,734 |
听 |
听 |
听 |
22.3 |
听 |
% |
听 |
21.6 |
听 |
% |
High-yield |
听 |
听 |
听 |
251,388 |
听 |
听 |
听 |
1,337 |
听 |
听 |
听 |
295,774 |
听 |
听 |
听 |
听 |
1,582 |
听 |
听 |
听 |
(15.0 |
) |
听 |
听 |
(15.5 |
) |
听 |
Emerging markets |
听 |
听 |
听 |
644,973 |
听 |
听 |
听 |
3,431 |
听 |
听 |
听 |
536,432 |
听 |
听 |
听 |
听 |
2,869 |
听 |
听 |
听 |
20.2 |
听 |
听 |
听 |
19.6 |
听 |
听 |
Eurobonds |
听 |
听 |
听 |
380,029 |
听 |
听 |
听 |
2,011 |
听 |
听 |
听 |
329,841 |
听 |
听 |
听 |
听 |
1,754 |
听 |
听 |
听 |
15.2 |
听 |
听 |
听 |
14.7 |
听 |
听 |
Other credit |
听 |
听 |
听 |
97,271 |
听 |
听 |
听 |
517 |
听 |
听 |
听 |
78,597 |
听 |
听 |
听 |
听 |
420 |
听 |
听 |
听 |
23.8 |
听 |
听 |
听 |
23.1 |
听 |
听 |
Total credit trading1 |
听 |
听 |
听 |
2,684,807 |
听 |
听 |
听 |
14,270 |
听 |
听 |
听 |
2,312,902 |
听 |
听 |
听 |
听 |
12,359 |
听 |
听 |
听 |
16.1 |
听 |
听 |
听 |
15.5 |
听 |
听 |
Rates |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
|
听 |
听 |
听 |
3,902,050 |
听 |
听 |
听 |
20,756 |
听 |
听 |
听 |
3,547,308 |
听 |
听 |
听 |
听 |
18,970 |
听 |
听 |
听 |
10.0 |
听 |
听 |
听 |
9.4 |
听 |
听 |
Agency and other government bonds1 |
听 |
听 |
听 |
151,393 |
听 |
听 |
听 |
801 |
听 |
听 |
听 |
80,249 |
听 |
听 |
听 |
听 |
428 |
听 |
听 |
听 |
88.7 |
听 |
听 |
听 |
87.1 |
听 |
听 |
Total rates trading |
听 |
听 |
听 |
4,053,443 |
听 |
听 |
听 |
21,557 |
听 |
听 |
听 |
3,627,557 |
听 |
听 |
听 |
听 |
19,398 |
听 |
听 |
听 |
11.7 |
听 |
听 |
听 |
11.1 |
听 |
听 |
Total trading |
听 |
听 |
$ |
6,738,250 |
听 |
听 |
$ |
35,827 |
听 |
听 |
$ |
5,940,459 |
听 |
听 |
听 |
$ |
31,757 |
听 |
听 |
听 |
13.4 |
听 |
听 |
听 |
12.8 |
听 |
听 |
Number of |
听 |
听 |
听 |
听 |
听 |
听 |
188 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
187 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
Number of |
听 |
听 |
听 |
听 |
听 |
听 |
189 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
188 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
||
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
1 Consistent with FINRA TRACE reporting standards, both sides of trades are included in the Company's reported volumes when the Company executes trades on a matched principal basis between two counterparties. |
听 |
听 |
|||||||||||||||||||||||||
2 Consistent with industry standards, |
听 |
听 |
|||||||||||||||||||||||||
3 The number of |
听 |
听 |
|||||||||||||||||||||||||
4 The number of |
听 |
听 |
|||||||||||||||||||||||||
听
View source version on businesswire.com:
INVESTOR RELATIONS
Stephen Davidson
MarketAxess Holdings Inc.
+1 212 813 6313
sdavidson2@marketaxess.com
MEDIA RELATIONS
Marisha Mistry
MarketAxess Holdings Inc.
+1 917 267 1232
mmistry@marketaxess.com
Source: MarketAxess Holdings Inc.
FAQ
What were MarketAxess's trading volumes for September 2024?
How did MarketAxess's U.S. high-grade ADV perform in September 2024?
What was the ADV for MarketAxess's portfolio trading in September 2024?
How did MarketAxess's total rates ADV perform in September 2024?
What were the preliminary variable transaction fees per million (FPM) for MarketAxess in September 2024?
How did MarketAxess's U.S. high-yield ADV perform in September 2024?
