MarketAxess, a distinguished operator of an digital
buying and selling platform for fixed-income securities, has launched the info for its
buying and selling quantity for November. The reported figures revealed a complete credit score
buying and selling quantity of $303.3 billion, marking a historic excessive for the corporate.
Among the many notable achievements are that Eurobonds
buying and selling quantity reached an unprecedented $43.7 billion, and municipal bond
buying and selling quantity surged to a report $12.6 billion.
Chris Concannon, the CEO of MarketAxess, talked about:
“We delivered report complete credit score buying and selling quantity in November, pushed by
sturdy progress throughout all credit score merchandise. The adoption of MarketAxess X-Professional
continues to develop, with 30% of our portfolio buying and selling quantity executed over the
X-Professional platform quarter-to-date, up from 18% within the third quarter of 2023.”
“We consider that the continued enchancment in
the market backdrop and the excessive ranges of shopper engagement with X-Professional, our
distinctive proprietary information merchandise, and our automated buying and selling options place
us for progress within the coming quarters.”
The whole credit score common each day buying and selling quantity
reached $14.3 billion, demonstrating a notable improve of 9.3% in comparison with the
prior 12 months and a considerable surge of 13.4% in comparison with October 2023. US
high-grade and high-yield ADV skilled substantial upticks.
Moreover, rising markets ADV noticed a big
rise of seven.6% from the prior 12 months, primarily attributed to elevated buying and selling
quantity in native forex markets. Eurobonds and municipal bonds additionally
skilled a considerable upswing in ADV, reflecting rising market exercise in
these segments.
MarketAxess Boosts Monetary Efficiency in Q3
In October, MarketAxess launched its monetary outcomes for the third quarter. Whereas the corporate maintained steady income at
$172.3 million, it skilled a notable lower in working revenue to $66.9
million, attributed to a surge of 10% in complete bills. Regardless of this, MarketAxess
celebrated attaining a report automated buying and selling quantity and expanded its lively
shopper base.
The corporate’s lively shopper base reached a brand new excessive
of two,093 companies, reflecting an enchancment of 6.1%. This included a big rise in
each lively US credit score shopper companies and worldwide lively shopper companies.
MarketAxess, whereas dealing with challenges as a consequence of low
credit score unfold volatility and elevated bills, revised its full-year 2023
expense steerage. The agency expects a decrease efficient tax price and constructive
developments for the rest of the 12 months.
In Might, Bloomberg, MarketAxess, and Tradeweb teamed as much as set up a three way partnership to function a consolidated tape supplier for
fixed-income devices inside the European Union area. This collaboration
marked a pivotal second within the effort to reinforce transparency and promote
electronification within the fixed-income trade.
MarketAxess, a distinguished operator of an digital
buying and selling platform for fixed-income securities, has launched the info for its
buying and selling quantity for November. The reported figures revealed a complete credit score
buying and selling quantity of $303.3 billion, marking a historic excessive for the corporate.
Among the many notable achievements are that Eurobonds
buying and selling quantity reached an unprecedented $43.7 billion, and municipal bond
buying and selling quantity surged to a report $12.6 billion.
Chris Concannon, the CEO of MarketAxess, talked about:
“We delivered report complete credit score buying and selling quantity in November, pushed by
sturdy progress throughout all credit score merchandise. The adoption of MarketAxess X-Professional
continues to develop, with 30% of our portfolio buying and selling quantity executed over the
X-Professional platform quarter-to-date, up from 18% within the third quarter of 2023.”
“We consider that the continued enchancment in
the market backdrop and the excessive ranges of shopper engagement with X-Professional, our
distinctive proprietary information merchandise, and our automated buying and selling options place
us for progress within the coming quarters.”
The whole credit score common each day buying and selling quantity
reached $14.3 billion, demonstrating a notable improve of 9.3% in comparison with the
prior 12 months and a considerable surge of 13.4% in comparison with October 2023. US
high-grade and high-yield ADV skilled substantial upticks.
Moreover, rising markets ADV noticed a big
rise of seven.6% from the prior 12 months, primarily attributed to elevated buying and selling
quantity in native forex markets. Eurobonds and municipal bonds additionally
skilled a considerable upswing in ADV, reflecting rising market exercise in
these segments.
MarketAxess Boosts Monetary Efficiency in Q3
In October, MarketAxess launched its monetary outcomes for the third quarter. Whereas the corporate maintained steady income at
$172.3 million, it skilled a notable lower in working revenue to $66.9
million, attributed to a surge of 10% in complete bills. Regardless of this, MarketAxess
celebrated attaining a report automated buying and selling quantity and expanded its lively
shopper base.
The corporate’s lively shopper base reached a brand new excessive
of two,093 companies, reflecting an enchancment of 6.1%. This included a big rise in
each lively US credit score shopper companies and worldwide lively shopper companies.
MarketAxess, whereas dealing with challenges as a consequence of low
credit score unfold volatility and elevated bills, revised its full-year 2023
expense steerage. The agency expects a decrease efficient tax price and constructive
developments for the rest of the 12 months.
In Might, Bloomberg, MarketAxess, and Tradeweb teamed as much as set up a three way partnership to function a consolidated tape supplier for
fixed-income devices inside the European Union area. This collaboration
marked a pivotal second within the effort to reinforce transparency and promote
electronification within the fixed-income trade.
