MarketAxess
introduced record-breaking buying and selling volumes for February 2024. The digital
buying and selling platform for fixed-income securities reported a complete credit score common
day by day quantity (ADV) of $15.2 billion, an uptick of 5.1% from the earlier 12 months,
pushed by robust efficiency throughout a number of key sectors.
File US
high-grade ADV of $7.7 billion, an enchancment of 14.6% year-over-year (YoY). In rising
markets, ADV escalated 12.5% to $3.6 billion. Eurobonds ADV climbed 9.1% to $2.0
billion. Municipal bonds ADV elevated 8.0% YoY to $434 million.
Regardless of the
total optimistic outcomes, US high-yield ADV declined 37.1% to $1.4 billion,
attributed to decrease credit score unfold volatility and a larger give attention to new difficulty
calendars by long-only shoppers.
“Sturdy
credit score volumes quarter-to-date throughout a number of of our progress cylinders have extra
than offset considerably decrease ranges of US high-yield buying and selling exercise on our
platform impacted by continued low ranges of credit score unfold volatility ,” mentioned Chris
Concannon, the CEO of MarketAxess.
In
addition, the corporate’s Open Buying and selling market, broadly considered the
most popular all-to-all buying and selling resolution in international credit score markets, accounted for
34% of complete credit score buying and selling quantity, a drop from 36% within the prior 12 months.
File Buying and selling Volumes
Drive Sturdy 2023 Efficiency
In late
January, MarketAxess reported stable monetary outcomes for the fourth quarter and full 12 months
2023, pushed by increased buying and selling volumes throughout a number of merchandise and areas.
Within the
fourth quarter, complete revenues rose 10.9% year-over-year to $197.2 million,
boosted by the acquisition of Pragma and favorable international forex
fluctuations. Moreover, internet revenue elevated 18% to $69.6 million, whereas diluted earnings
per share (EPS) grew 16.5% to $1.84.
For the
full 12 months 2023, MarketAxess posted an incline of 5% year-over-year in complete
revenues to $753 million. Web revenue confirmed a reasonable improve of three% to $258 million, and diluted EPS
grew 3% to $6.85, with outcomes visibly higher than the third quarter of 2023.
In late
February 2024, the corporate introduced a key government appointment, naming Ilene
Fiszel Bieler as its new Chief Monetary Officer, efficient round Might 2024.
Bieler, who will substitute Christopher Gerosa, brings intensive expertise from
her tenures at State Road World Markets and Barclays, amongst others.
MarketAxess
introduced record-breaking buying and selling volumes for February 2024. The digital
buying and selling platform for fixed-income securities reported a complete credit score common
day by day quantity (ADV) of $15.2 billion, an uptick of 5.1% from the earlier 12 months,
pushed by robust efficiency throughout a number of key sectors.
File US
high-grade ADV of $7.7 billion, an enchancment of 14.6% year-over-year (YoY). In rising
markets, ADV escalated 12.5% to $3.6 billion. Eurobonds ADV climbed 9.1% to $2.0
billion. Municipal bonds ADV elevated 8.0% YoY to $434 million.
Regardless of the
total optimistic outcomes, US high-yield ADV declined 37.1% to $1.4 billion,
attributed to decrease credit score unfold volatility and a larger give attention to new difficulty
calendars by long-only shoppers.
“Sturdy
credit score volumes quarter-to-date throughout a number of of our progress cylinders have extra
than offset considerably decrease ranges of US high-yield buying and selling exercise on our
platform impacted by continued low ranges of credit score unfold volatility ,” mentioned Chris
Concannon, the CEO of MarketAxess.
In
addition, the corporate’s Open Buying and selling market, broadly considered the
most popular all-to-all buying and selling resolution in international credit score markets, accounted for
34% of complete credit score buying and selling quantity, a drop from 36% within the prior 12 months.
File Buying and selling Volumes
Drive Sturdy 2023 Efficiency
In late
January, MarketAxess reported stable monetary outcomes for the fourth quarter and full 12 months
2023, pushed by increased buying and selling volumes throughout a number of merchandise and areas.
Within the
fourth quarter, complete revenues rose 10.9% year-over-year to $197.2 million,
boosted by the acquisition of Pragma and favorable international forex
fluctuations. Moreover, internet revenue elevated 18% to $69.6 million, whereas diluted earnings
per share (EPS) grew 16.5% to $1.84.
For the
full 12 months 2023, MarketAxess posted an incline of 5% year-over-year in complete
revenues to $753 million. Web revenue confirmed a reasonable improve of three% to $258 million, and diluted EPS
grew 3% to $6.85, with outcomes visibly higher than the third quarter of 2023.
In late
February 2024, the corporate introduced a key government appointment, naming Ilene
Fiszel Bieler as its new Chief Monetary Officer, efficient round Might 2024.
Bieler, who will substitute Christopher Gerosa, brings intensive expertise from
her tenures at State Road World Markets and Barclays, amongst others.
