Business
MarketAxess Announces Monthly Volume Statistics for December 2022
NEW YORK--(BUSINESS WIRE)-- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and
About this update from Marketaxess Holdings, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nMarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced monthly trading volume for December 2022 and preliminary variable transaction fees per million (“FPM”) for the month of December and the quarter ended December 31, 2022.1\n\nChris Concannon, President and COO of MarketAxess commented: “We delivered another strong month with a 27% increase in total credit ADV, driven by a 26% increase in U.S. high-grade ADV and record estimated market share across high-yield, emerging markets, Eurobonds and municipals. These market share gains reflect the powerful benefits of our unique all-to-all liquidity pool. \n\nOpen Trading estimated price improvement4 was approximately $79 million in December and average estimated price improvement per million was approximately $1,042. For full-year 2022, estimated price improvement was approximately $946 million, 65% above the prior year.\n\nThe strong share gains we delivered this year reflect the increasing strength of our franchise, driven by the investments we have made to expand our product and geographic foundation. We believe that these strong results and the favorable backdrop for fixed income markets in 2023 create a very attractive operating environment for our model in the new year.” \n\nSelect December 2022 highlights*\n\n\nStrong December with 27% increase in total credit average daily volume (“ADV”) to $10.6 billion.\n\n\nRecord 22.8% (+140 bps) composite corporate bond estimated market share,2 up from 21.4%.\n\n\n26% increase in U.S. high-grade ADV to $5.1 billion with estimated market share of 23.4%. Estimated U.S. high-grade TRACE market ADV increased 27%.\n\n\n25% increase in U.S. high-yield ADV to $1.6 billion with record estimated market share of 21.4% (+310 bps), up from 18.3%.\n\n\nEmerging markets ADV of $2.1 billion, down slightly; flat excluding the impact of foreign currency fluctuations. Emerging markets market volumes down 22%. Record 32.9% estimated market share of FINRA TRACE-reportable emerging markets trading volume.3\n\n\nRecord 19.6% (+520 bps) estimated Eurobonds market share, up from 14.4%. $1.4 billion in Eurobonds ADV, representing an increase of 56%; up appr...