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MarketAxess Announces Trading Volume Statistics for February 2025
NEW YORK--(BUSINESS WIRE)-- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities,
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, today announced trading volume and preliminary variable transaction fees per million (“FPM”) for February 2025.1\n\nChris Concannon, CEO of MarketAxess, commented:\n“While we are not satisfied with our February performance in U.S. credit, we are seeing the benefit of the enhancements we have made to our portfolio trading solution, and the launch of our High Touch block trading solution in Eurobonds and emerging markets. We are also excited about the expected launch of our High Touch block trading solution in the U.S. and our dealer Mid-X protocol on Pragma technology in the second quarter. We believe these new capabilities should help drive higher levels of market share in U.S. credit in the coming quarters. While it is still early in the final month of the quarter, we are encouraged by the recent increase in volatility in the markets and the increase in our U.S. credit trading volumes and estimated market share relative to February 2025 levels.”\n\nSelect February 2025 Highlights\n\n\nTotal average daily volume (“ADV”) of $43.4 billion increased 27% compared to the prior year, and increased 11% compared to January 2025 levels. Total rates ADV of $27.9 billion increased 46% compared to the prior year, and increased 14% compared to January 2025. Total credit ADV of $15.5 billion increased 2% compared to the prior year, and increased 7% compared to January 2025.\n\n\nU.S. Credit2\n\n\nU.S. high-grade ADV of $7.1 billion decreased 8% compared to the prior year, but increased 2% compared to January 2025. Estimated market ADV increased 5% compared to the prior year, and increased 6% compared to January 2025. Including the impact of single-dealer portfolio trades, estimated market share was 17.8%, down from 19.5% in the prior year, and down slightly from 17.9% in January 2025. Estimated market share, excluding the impact of single-dealer portfolio trades, was 17.0%, down from 19.5% in the prior year, and down from 17.7% in January 2025.\n\n\nU.S. high-yield ADV of $1.4 billion was in line with the prior year, but increased 12% compared to January 2025. Estimated market ADV increased 16% compared to the prior year, and increased 21% compared to January 2025. Including the impact of s...