MarketAxess
Holdings Inc. has introduced its month-to-month buying and selling quantity and preliminary variable
transaction charges per million (FPM) for the fourth quarter ended December 31,
2023.
In
the fourth quarter of 2023, MarketAxess skilled sturdy efficiency, with
whole credit score common day by day buying and selling quantity (ADV) reaching $13.1 billion. This
marked an 8.9% improve in comparison with the prior yr.
The
US high-grade common day by day buying and selling quantity skilled vital progress,
reaching $6.2 billion, marking a notable improve of 13.3% from the earlier
yr. Nevertheless, there was a slight dip within the estimated market share in comparison with
the prior yr.
The
US high-yield sector reported an ADV of $1.7 billion, reflecting an 8.4%
decline in comparison with the prior yr. Rising markets ADV reached $2.9 billion,
up 9.8% from the previous yr, pushed by a considerable 25.6% improve in native
foreign money buying and selling ADV. Eurobonds ADV grew by 12.6%, totaling $1.8 billion.
MarketAxess
achieved a file municipal bond ADV of $539 million, up 7.8% from the prior
yr. The estimated market share elevated to five.8%, up from 5.0% within the previous
yr. AxessIQ, the order and execution workflow answer for wealth administration
and personal banking shoppers, demonstrated robust efficiency with a file ADV
of $140.6 million, up 67.0% from the earlier fiscal yr.
Portfolio
buying and selling reached a file $41.8 billion, exhibiting a considerable 35.8% improve
from the final yr. Roughly $11.6 billion of portfolio buying and selling quantity was
executed over MarketAxess X-Professional. Open Buying and selling share of whole credit score buying and selling
quantity was 36%. Complete charges ADV was $16.5 billion, down 10.1% versus the Earlier
fiscal yr.
The
preliminary FPM for whole credit score for 4Q23 was roughly $156, in comparison with
$164 within the prior yr. The decline was attributed to a product and protocol
combine shift. The preliminary FPM for whole charges was $4.50, in comparison with $4.16 in
the prior yr.
Chris
Concannon, CEO of MarketAxess,
attributed the robust efficiency to rising shopper engagement with
MarketAxess’s proprietary knowledge merchandise, automated options, and the distinctive
MarketAxess X-Professional buying and selling platform. The constructive market volumes in 4Q23 set a
promising tone as the corporate entered 2024.
4Q 2023 Buying and selling ADV, Supply: businesswire
Bloomberg,
MarketAxess, and Tradeweb Withdraw from Mounted-Earnings CTP Initiative
Finance Magnates reported that Bloomberg,
MarketAxess, and Tradeweb have deserted plans for an unbiased entity to
function the fixed-income consolidated tape supplier (CTP) within the European
Union and the UK. The choice, attributed to mounting complexities
and uncertainties, follows challenges associated to the unsure consequence of the
three way partnership’s product.
Tradeweb
said that, after cautious consideration, the businesses have collectively agreed to
finish their engagement within the enterprise. The collaboration, initiated in Might, aimed
to revolutionize the fixed-income CTP house however confronted obstacles, resulting in the
surprising determination. The companies stay dedicated to contributing to progress in
this essential initiative.
MarketAxess
Holdings Inc. has introduced its month-to-month buying and selling quantity and preliminary variable
transaction charges per million (FPM) for the fourth quarter ended December 31,
2023.
In
the fourth quarter of 2023, MarketAxess skilled sturdy efficiency, with
whole credit score common day by day buying and selling quantity (ADV) reaching $13.1 billion. This
marked an 8.9% improve in comparison with the prior yr.
The
US high-grade common day by day buying and selling quantity skilled vital progress,
reaching $6.2 billion, marking a notable improve of 13.3% from the earlier
yr. Nevertheless, there was a slight dip within the estimated market share in comparison with
the prior yr.
The
US high-yield sector reported an ADV of $1.7 billion, reflecting an 8.4%
decline in comparison with the prior yr. Rising markets ADV reached $2.9 billion,
up 9.8% from the previous yr, pushed by a considerable 25.6% improve in native
foreign money buying and selling ADV. Eurobonds ADV grew by 12.6%, totaling $1.8 billion.
MarketAxess
achieved a file municipal bond ADV of $539 million, up 7.8% from the prior
yr. The estimated market share elevated to five.8%, up from 5.0% within the previous
yr. AxessIQ, the order and execution workflow answer for wealth administration
and personal banking shoppers, demonstrated robust efficiency with a file ADV
of $140.6 million, up 67.0% from the earlier fiscal yr.
Portfolio
buying and selling reached a file $41.8 billion, exhibiting a considerable 35.8% improve
from the final yr. Roughly $11.6 billion of portfolio buying and selling quantity was
executed over MarketAxess X-Professional. Open Buying and selling share of whole credit score buying and selling
quantity was 36%. Complete charges ADV was $16.5 billion, down 10.1% versus the Earlier
fiscal yr.
The
preliminary FPM for whole credit score for 4Q23 was roughly $156, in comparison with
$164 within the prior yr. The decline was attributed to a product and protocol
combine shift. The preliminary FPM for whole charges was $4.50, in comparison with $4.16 in
the prior yr.
Chris
Concannon, CEO of MarketAxess,
attributed the robust efficiency to rising shopper engagement with
MarketAxess’s proprietary knowledge merchandise, automated options, and the distinctive
MarketAxess X-Professional buying and selling platform. The constructive market volumes in 4Q23 set a
promising tone as the corporate entered 2024.
4Q 2023 Buying and selling ADV, Supply: businesswire
Bloomberg,
MarketAxess, and Tradeweb Withdraw from Mounted-Earnings CTP Initiative
Finance Magnates reported that Bloomberg,
MarketAxess, and Tradeweb have deserted plans for an unbiased entity to
function the fixed-income consolidated tape supplier (CTP) within the European
Union and the UK. The choice, attributed to mounting complexities
and uncertainties, follows challenges associated to the unsure consequence of the
three way partnership’s product.
Tradeweb
said that, after cautious consideration, the businesses have collectively agreed to
finish their engagement within the enterprise. The collaboration, initiated in Might, aimed
to revolutionize the fixed-income CTP house however confronted obstacles, resulting in the
surprising determination. The companies stay dedicated to contributing to progress in
this essential initiative.
