Business
MarketAxess Announces Monthly Volume Statistics for November 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 and preliminary variable transaction fees per million (“FPM”) for November 2022.1\n\nChris Concannon, President and COO of MarketAxess commented:\n\n“November was another very strong month, as we continue to build momentum going into 2023. We generated record total credit ADV, with record ADV in Eurobonds and municipal bonds. We also delivered another strong month of market share gains across most of our product areas, driven in part by the powerful benefits of Open Trading, our differentiated liquidity pool. \n\nOpen Trading estimated price improvement4 was approximately $83 million in November, which equates to approximately $923 per million saved for our clients. Year-to-date estimated price improvement4 is now approximately $866 million, 65% above the prior year.\n\nThe strength of our performance reflects the enhanced foundation for growth we have established over the last several years by broadening and enhancing our global product portfolio, and we believe we are very well-positioned going into 2023.”\n\nSelect November 2022 highlights*\n\n\nRecord $13.1 billion in total credit average daily volume (“ADV”), representing a 25% increase compared to the prior year and surpassing the previous record set in March 2021.\n\n\n20.3% (+200 bps) composite corporate bond estimated market share,2 up from 18.3%.\n\n\n23% increase in U.S. high-grade ADV to $5.9 billion with estimated market share of 20.5%. Estimated U.S. high-grade TRACE market ADV increased 26%.\n\n\n31% increase in U.S. high-yield ADV to $1.9 billion with estimated market share of 19.3% (+470 bps), up from 14.6%.\n\n\nRecord 22.1% (+580 bps) estimated emerging markets market share,3 up from 16.3%, on ADV of $3.1 billion, up 9%; up approximately 11% excluding the impact of foreign currency fluctuations.\n\n\nRecord $1.7 billion in Eurobonds ADV, representing an increase of 29%; up approximately 42% excluding the impact of foreign currency fluctuations. 17.7% (+440 bps) estimated Eurobonds market share, up from 13.3%.\n\n\nRecord $547 million in municipal bond ADV with estimated market s...