Business
MarketAxess Announces Monthly Volume Statistics for March 2022
NEW YORK, April 05, 2022 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income
About this update from Marketaxess Holdings, Inc.
[{"type":"text","content":"NEW YORK, April 05, 2022 (GLOBE NEWSWIRE) -- MarketAxess 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 March 2022 of $894.6 billion, consisting of $285.1 billion in credit volume and $609.5 billion in rates volume. “We achieved the second highest level of monthly total trading volume in March, and record quarterly total trading volume, surpassing the high-water mark set in the first quarter of 2020 at the height of the pandemic. These strong results include record quarterly emerging markets, municipal bond and U.S. Treasury volume, reflecting the powerful diversification of our global marketplace,” commented Rick McVey, Chairman and CEO of MarketAxess. “Credit spreads and credit spread volatility have continued to move back to more normal levels, and as a result, the estimated transaction cost savings we delivered to clients through Open Trading, our differentiated liquidity pool, grew to approximately $201 million in the first quarter, surpassing the $197 million recorded in 1Q21, and the average $125 million per quarter saved for clients for the remaining quarters of 2021.” The Company also reported preliminary variable transaction fees per million (“FPM”) for the quarter ended March 31, 2022 of $154 for U.S. high-grade, $188 for other credit, $172 for total credit and $3.80 for rates. The FPM for the quarter ended March 31, 2022 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. Select March 2022 highlights Include: Total monthly trading volume of $895 billion, second best month on record.Total credit monthly average daily volume (“ADV”) of $12.4 billion, down 3% from record March 2021 levels, with combined estimated U.S. high-grade and U.S. high-yield TRACE ADV down 6%.High-grade ADV of $5.8 billion, with high-grade new issuance of over $200 billion during the month.Record monthly emerging markets ADV of $3.2 billion, up 14%, driven by strong market share gains.Strong U.S. Treasury monthly ADV of $26.1 billion, up 53%, with market volumes flat year-over-year.Record monthly municipal bond ADV of $294 million. ...