MarketAxess ADV Rises 27% to $10.6 Billion in December
- The electronic trading platform operator published monthly and quarterly statistics.
- Total ADVs for credit and rates markets surpassed previously reported periods.
US-listed MarketAxess Holdings (Nasdaq:MKTX) has published its demand metrics for December 2022, reporting a total average daily volume (ADV) of $27.19 billion. That figure has increased by 11% Year-over-Year (YoY).
MarketAxess Reports Strong End of the Year
According to the press release from Thursday, the operator of a leading electronic trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term saw a significant increase in total credit ADV. The number grew by 27% from $8.3 billion reported in December 2021 to $10.6 billion until the year-end of 2022. Total rates for this metric recorded a more modest gain to $16.6 billion, increasing 3% YoY.
"We delivered another strong month with a 27% increase in total credit ADV, driven by a 26% increase in US high-grade ADV and record estimated market share across high-yield, emerging markets, Eurobonds and municipals. These market share gains reflect the powerful benefits of our unique all-to-all liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term pool," Chris Concannon, the President and COO of MarketAxess commented.
MarketAxess reported record growth in composite corporate bond market share, which is up 140 basis points to 22.8%. The US high-yield ADV grew by 26% and reached $5.1 billion with an estimated market share of 23.4%. In addition, the US high-yield ADV achieved a record market share, rising 310 basis points to 21.4%.
Q4 2022 with Higher Volumes
Data for the entire fourth quarter of 2022 shows total ADV rising by 4% to $30.4 trillion. It was possible due to the appreciation of total credit ADV from $9.7 trillion to $12.0 trillion (24% YoY). Total rates average daily volume scored a modest 5% decline YoY, reaching $18.4 trillion.
Additionally, the company reported a record increase in composite corporate bond estimated market share, which rose to 20.9% in Q4 2022 from the 18.8% reported in the same period a year earlier. The US high-grade ADV increased by 22% to $5.5 billion with an estimated market share of 21.1%, while the US high-yield market share reached a record level of 20.5%, rising from last year's 15.5%.
"The strong share gains we delivered this year reflect the increasing strength of our franchise, driven by the investments we have made to expand our product and geographic foundation. We believe that these strong results and the favorable backdrop for fixed income markets in 2023 create a very attractive operating environment for our model in the new year," Concannon added.
In October 2021, MarketAxess announced the expansion of its staff and appointed Kathryn Sweeney as Head of Index and ETF Solutions.
US-listed MarketAxess Holdings (Nasdaq:MKTX) has published its demand metrics for December 2022, reporting a total average daily volume (ADV) of $27.19 billion. That figure has increased by 11% Year-over-Year (YoY).
MarketAxess Reports Strong End of the Year
According to the press release from Thursday, the operator of a leading electronic trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term saw a significant increase in total credit ADV. The number grew by 27% from $8.3 billion reported in December 2021 to $10.6 billion until the year-end of 2022. Total rates for this metric recorded a more modest gain to $16.6 billion, increasing 3% YoY.
"We delivered another strong month with a 27% increase in total credit ADV, driven by a 26% increase in US high-grade ADV and record estimated market share across high-yield, emerging markets, Eurobonds and municipals. These market share gains reflect the powerful benefits of our unique all-to-all liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term pool," Chris Concannon, the President and COO of MarketAxess commented.
MarketAxess reported record growth in composite corporate bond market share, which is up 140 basis points to 22.8%. The US high-yield ADV grew by 26% and reached $5.1 billion with an estimated market share of 23.4%. In addition, the US high-yield ADV achieved a record market share, rising 310 basis points to 21.4%.
Q4 2022 with Higher Volumes
Data for the entire fourth quarter of 2022 shows total ADV rising by 4% to $30.4 trillion. It was possible due to the appreciation of total credit ADV from $9.7 trillion to $12.0 trillion (24% YoY). Total rates average daily volume scored a modest 5% decline YoY, reaching $18.4 trillion.
Additionally, the company reported a record increase in composite corporate bond estimated market share, which rose to 20.9% in Q4 2022 from the 18.8% reported in the same period a year earlier. The US high-grade ADV increased by 22% to $5.5 billion with an estimated market share of 21.1%, while the US high-yield market share reached a record level of 20.5%, rising from last year's 15.5%.
"The strong share gains we delivered this year reflect the increasing strength of our franchise, driven by the investments we have made to expand our product and geographic foundation. We believe that these strong results and the favorable backdrop for fixed income markets in 2023 create a very attractive operating environment for our model in the new year," Concannon added.
In October 2021, MarketAxess announced the expansion of its staff and appointed Kathryn Sweeney as Head of Index and ETF Solutions.