MarketAxess Announces Total Credit Trading Volume of $303.3B, Eurobonds Trading Volume of $43.7B and Municipal Bond Trading Volume of $12.6B in November 2023
Portfolio Pulse from Benzinga Newsdesk
MarketAxess Holdings Inc. (NASDAQ:MKTX) reported record total credit trading volume of $303.3B in November 2023, with significant growth across all credit products. The company saw a 30% quarter-to-date volume executed over its X-Pro platform, up from 18% in Q3 2023. Key highlights include increases in average daily trading volumes (ADV) for U.S. high-grade, U.S. high-yield, emerging markets, Eurobonds, and municipal bonds compared to the previous year and October 2023. However, total rates ADV declined, and an outage at ICBC affected U.S. Treasury ADV. The preliminary variable transaction fees per million (FPM) for total credit in November was $157, slightly down from the previous year but up from October 2023.
December 05, 2023 | 11:36 am
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POSITIVE IMPACT
MarketAxess reported a record trading volume, indicating strong performance and growth, particularly in credit products and the adoption of its X-Pro platform. The increase in ADV across various segments and a slight increase in FPM from October suggest positive momentum.
The record trading volumes and increased adoption of MarketAxess's X-Pro platform suggest strong company performance, which is likely to be viewed positively by investors. The positive momentum in various trading segments, despite a slight year-over-year decrease in FPM, indicates potential for continued growth, which could positively impact the stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100