MarketAxess Achieves $13.1 Billion in Credit ADV – Investorempires.com

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MarketAxess
Holdings Inc. has announced its monthly trading volume and preliminary variable
transaction fees per million (FPM) for the fourth quarter ended December 31,
2023.

In
the fourth quarter of 2023, MarketAxess experienced robust performance, with
total credit average daily trading volume (ADV) reaching $13.1 billion. This
marked an increase of 8.9% compared to the prior year.

The
US high-grade average daily trading volume experienced significant growth,
reaching $6.2 billion, marking a notable improvement of 13.3% from the previous
year. However, there was a slight dip in the estimated market share compared to
the prior year.

The
US high-yield sector reported an ADV of $1.7 billion. Emerging markets ADV
reached $2.9 billion. Eurobonds ADV saw growth, totaling $1.8 billion.
MarketAxess achieved a record municipal bond ADV of $539 million.

AxessIQ, the
order and execution workflow solution for wealth management and private banking
clients, demonstrated strong performance with a record ADV of $140.6 million.
The preliminary FPM for total credit for Q4 2023 was approximately $156,
compared to $164 in the prior year. The decline was attributed to a product and
protocol mix shift.

Chris
Concannon, the CEO of MarketAxess,
attributed the strong performance to growing client engagement with
MarketAxess’s proprietary data products, automated solutions, and the unique
MarketAxess X-Pro trading platform. The positive market volumes in Q4 2023 set a
promising tone as the company entered 2024.

Q4 2023 Trading ADV, Source: businesswire

Bloomberg,
MarketAxess, and Tradeweb Withdraw from Fixed-Income CTP Initiative

Finance Magnates reported that Bloomberg,
MarketAxess, and Tradeweb have abandoned plans for an independent entity to
serve as the fixed-income consolidated tape provider (CTP) in the European
Union and the United Kingdom. The decision, attributed to mounting complexities
and uncertainties, follows challenges related to the uncertain outcome of the
joint venture’s product.

Tradeweb
stated that, after careful consideration, the companies have jointly agreed to
end their engagement in the venture. The collaboration, initiated in May, aimed
to revolutionize the fixed-income CTP space but faced obstacles, leading to the
unexpected decision. The firms remain committed to contributing to progress in
this important initiative.

MarketAxess
Holdings Inc. has announced its monthly trading volume and preliminary variable
transaction fees per million (FPM) for the fourth quarter ended December 31,
2023.

In
the fourth quarter of 2023, MarketAxess experienced robust performance, with
total credit average daily trading volume (ADV) reaching $13.1 billion. This
marked an increase of 8.9% compared to the prior year.

The
US high-grade average daily trading volume experienced significant growth,
reaching $6.2 billion, marking a notable improvement of 13.3% from the previous
year. However, there was a slight dip in the estimated market share compared to
the prior year.

The
US high-yield sector reported an ADV of $1.7 billion. Emerging markets ADV
reached $2.9 billion. Eurobonds ADV saw growth, totaling $1.8 billion.
MarketAxess achieved a record municipal bond ADV of $539 million.

AxessIQ, the
order and execution workflow solution for wealth management and private banking
clients, demonstrated strong performance with a record ADV of $140.6 million.
The preliminary FPM for total credit for Q4 2023 was approximately $156,
compared to $164 in the prior year. The decline was attributed to a product and
protocol mix shift.

Chris
Concannon, the CEO of MarketAxess,
attributed the strong performance to growing client engagement with
MarketAxess’s proprietary data products, automated solutions, and the unique
MarketAxess X-Pro trading platform. The positive market volumes in Q4 2023 set a
promising tone as the company entered 2024.

Q4 2023 Trading ADV, Source: businesswire

Bloomberg,
MarketAxess, and Tradeweb Withdraw from Fixed-Income CTP Initiative

Finance Magnates reported that Bloomberg,
MarketAxess, and Tradeweb have abandoned plans for an independent entity to
serve as the fixed-income consolidated tape provider (CTP) in the European
Union and the United Kingdom. The decision, attributed to mounting complexities
and uncertainties, follows challenges related to the uncertain outcome of the
joint venture’s product.

Tradeweb
stated that, after careful consideration, the companies have jointly agreed to
end their engagement in the venture. The collaboration, initiated in May, aimed
to revolutionize the fixed-income CTP space but faced obstacles, leading to the
unexpected decision. The firms remain committed to contributing to progress in
this important initiative.

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