Business
MarketAxess Announces Trading Volume Statistics for December and Fourth Quarter 2024
Record 4Q24 Total Trading ADV, Up 38% With Record Municipal Bond ADV and Record Total Rates ADV NEW YORK--(BUSINESS WIRE)-- MarketAxess Holdings Inc.
About this update from Marketaxess Holdings, Inc.
[{"type":"text","content":"\nRecord 4Q24 Total Trading ADV, Up 38% With Record Municipal Bond ADV and Record Total Rates ADV\n\n\n NEW YORK--(BUSINESS WIRE)--\nMarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced trading volume and preliminary variable transaction fees per million (“FPM”) for December 2024 and the fourth quarter ended December 31, 2024.1\n\n\nChris Concannon, CEO of MarketAxess, commented:\n\n\n“In the fourth quarter, we delivered record total trading ADV, driven by strong growth across most product areas, including 16% growth year-over-year in our international products, record ADV in municipal bonds and record total rates ADV. Emerging markets ADV increased 18% compared to the prior year to the second highest level of quarterly trading ADV ever. We delivered these strong results to finish the year as we continue to execute our high-touch strategy, focused on portfolio trading and block trading. A record 77% of portfolio trades were executed on X-Pro in December and we are continuing to gain traction with our block trading solution, which was launched in the fourth quarter in emerging markets and Eurobonds. Block trades in emerging markets on our platform increased 17% in 4Q24 compared to the prior year, with the average block trade size increasing to $13 million. We have additional enhancements coming in the first quarter, which we believe will enhance our market share in the coming quarters.”\n\n\nSelect December 2024 Highlights\n\n\n\nTotal average daily volume (“ADV”) of $32.0 billion increased 19% compared to the prior year, but decreased 29% compared to November 2024 levels. The decline in total trading ADV in December compared to November 2024 includes the impact of the normal seasonal slowdown we experience across most product areas in the month. These results were driven by total rates ADV of $19.8 billion, which increased 34% compared to the prior year, but decreased 36% compared to November 2024. Total credit ADV of $12.3 billion was in line with the prior year, but decreased 14% compared to November 2024.\n\n\n\nU.S. Credit2\n\n\n\nU.S. high-grade ADV of $5.9 billion decreased 3% compared to the prior year, and decreased 9% compared to November 2024. Estimated market ADV increased 9% compared to the prior year, but decreased 16% compared t...