Business
MarketAxess Announces Monthly Volume Statistics for October 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 October 2022.1\n\nChris Concannon, President and COO of MarketAxess commented:\n\n“October was another strong month with 20% growth in credit ADV and strong market share gains across high-yield, emerging markets, Eurobonds and municipals. These share gains reflect the increasing strength of the franchise, and the importance of our unique all-to-all liquidity for our clients, who are navigating very challenging market conditions.\n\nOpen Trading estimated transaction cost savings4 were a total of $84 million in October, which equates to approximately $1,009 per million saved for our clients. Year-to-date estimated transaction cost savings4 are now approximately $783 million, 62% above the prior year, reflecting the powerful benefits of our unique, all-to-all liquidity pool.\n\nWe continue to extend our leadership in institutional credit, we are gaining market share in Portfolio Trading, with strong growth in Europe, and we continue to build momentum in our new initiatives, including municipals and U.S. Treasuries.”\n\nSelect October 2022 highlights*\n\n\n$32.0 billion in total trading average daily volume (“ADV”); 20% increase in total credit ADV to $12.4 billion.\n\n\n20.2% (+290 bps) composite corporate bond estimated market share,2 up from 17.3%.\n\n\n18% increase in U.S. high-grade ADV to $5.5 billion with estimated market share of 19.8%. Elevated dealer-to-dealer and international client flows were drivers of higher estimated U.S. high-grade TRACE volume in October relative to September 2022.\n\n\nRecord $2.0 billion in high-yield ADV representing an increase of 43%. Estimated U.S. high-yield market share of 21.0% (+670 bps), up from 14.3%.\n\n\nRecord 21.9% (+530 bps) estimated emerging markets market share,3 up from 16.6%, on ADV of $2.8 billion, down 1%; up approximately 3% excluding the impact of foreign currency fluctuations.\n\n\n24% increase in Eurobonds ADV to $1.6 billion, up approximately 46% excluding the impact of foreign currency fluctuations. 17.8% (+550 bps) estim...