MarketAxess Announces Monthly Volume Statistics for December 2019
January 06 2020 - 8:00AM
MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading
electronic trading platform for fixed-income securities, and the
provider of market data and post-trade services for the global
fixed-income markets, today announced total monthly trading volume
for December 2019 of $466.9 billion, consisting of $80.2 billion in
U.S. high-grade volume, $70.6 billion in other credit volume, and
$316.2 billion in rates volume.
The Company also reported preliminary variable
transaction fees per million (“FPM”) for the quarter ended December
31, 2019 of $82, consisting of $170 for U.S. high-grade, $191 for
other credit, and $4.50 for rates. The FPM for the quarter ended
December 31, 2019 are preliminary and may be revised in subsequent
updates and public filings. The Company undertakes no obligation to
update any fee information in future press releases.
Reported MarketAxess volume in all product
categories includes only fully electronic trading volume.
MarketAxess trading volumes, TRACE reported volumes and Trax®
processed volumes are available on the Company’s website at
investor.marketaxess.com/volume.cfm
Cautionary Note Regarding
Forward-Looking Statements
This press release may contain forward-looking
statements, including statements about the outlook and prospects
for Company and industry growth, as well as statements about the
Company’s future financial and operating performance. These and
other statements that relate to future results and events are based
on MarketAxess’ current expectations. Actual results in future
periods may differ materially from those currently expected or
desired because of a number of risks and uncertainties, including:
the volatility of financial services markets generally; the level
of trading volume transacted on the MarketAxess platform; the
absolute level and direction of interest rates and the
corresponding volatility in the corporate fixed-income market; the
level and intensity of competition in the fixed-income electronic
trading industry and the pricing pressures that may result; the
variability of our growth rate; the rapidly evolving nature of the
electronic financial services industry; our ability to introduce
new fee plans and our clients’ response; our exposure to risks
resulting from non-performance by counterparties to transactions
executed between our clients in which we act as an intermediary in
matching back-to-back trades; our dependence on our broker-dealer
clients; the loss of any of our significant institutional investor
clients; our ability to develop new products and offerings and the
market’s acceptance of those products; the effect of rapid market
or technological changes on us and the users of our technology; our
ability to successfully maintain the integrity of our trading
platform and our response to system failures, capacity constraints
and business interruptions; our vulnerability to cyber security
risks; our ability to protect our intellectual property rights or
technology and defend against intellectual property infringement or
other claims; our ability to enter into strategic alliances and to
acquire other businesses and successfully integrate them with our
business; our ability to comply with new laws, rules and
regulations both domestically and internationally; our ability to
maintain effective compliance and risk management methods; the
strain of growth initiatives on management and other resources; our
future capital needs and our ability to obtain capital when needed;
limitations on our operating flexibility contained in our credit
agreement; and other factors. The Company’s actual results and
financial condition may differ, perhaps materially, from the
anticipated results and financial condition in any such
forward-looking statements. The Company undertakes no obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise. More information
about these and other factors affecting MarketAxess’ business and
prospects is contained in MarketAxess’ periodic filings with the
Securities and Exchange Commission and can be accessed at
www.marketaxess.com.
About MarketAxess
MarketAxess operates a leading, institutional
electronic trading platform delivering expanded liquidity
opportunities, improved execution quality and significant cost
savings across global fixed-income markets. A record $2.1 trillion
of U.S. investment-grade bonds, U.S. high-yield bonds, emerging
market debt, Eurobonds and other fixed income securities traded
through MarketAxess’ patented trading technology in 2019. The
global community of over 1,700 firms trading on MarketAxess today
include the world’s leading asset managers and institutional
broker-dealers. MarketAxess’ award-winning Open Trading™
marketplace is regarded as the preferred all-to-all trading
solution in the global credit markets, creating a unique liquidity
pool for a broad range of credit market participants. Drawing on
its deep data and analytical resources, MarketAxess enables
automated trading solutions and, through its Trax® division,
provides a range of pre- and post-trade services and products.
MarketAxess is headquartered in New York and has
offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami,
Salt Lake City, San Francisco, São Paulo, Hong Kong and Singapore.
For more information, please visit www.marketaxess.com.
Investor Relations Contact:
David CresciMarketAxess Holdings
Inc.+1-212-813-6027
Media Relations Contacts:
Kyle WhiteMarketAxess Holdings
Inc.+1-212-813-6355
William McBrideRF | Binder +1-917-239-6726
MarketAxess Holdings
Inc.Monthly Volume Statistics
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Daily Volume |
|
Total Trading Volume |
|
Dec-19 |
|
Dec-18 |
|
% Change |
|
Dec-19 |
|
Dec-18 |
|
% Change |
|
($ in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
U.S High Grade 1 |
|
|
|
|
|
|
|
|
|
|
|
Fixed Rate |
$ |
3,578 |
|
$ |
3,634 |
|
-1.5 |
% |
|
$ |
75,129 |
|
$ |
69,040 |
|
8.8 |
% |
Floating Rate |
|
240 |
|
|
283 |
|
-15.2 |
% |
|
|
5,036 |
|
|
5,370 |
|
-6.2 |
% |
Total U.S. High Grade |
|
3,818 |
|
|
3,917 |
|
-2.5 |
% |
|
|
80,165 |
|
|
74,410 |
|
7.7 |
% |
Other Credit 1 |
|
|
|
|
|
|
|
|
|
|
|
U.S. High Yield |
|
858 |
|
|
797 |
|
7.7 |
% |
|
|
18,027 |
|
|
15,139 |
|
19.1 |
% |
Emerging Markets |
|
1,634 |
|
|
1,321 |
|
23.7 |
% |
|
|
34,310 |
|
|
25,108 |
|
36.6 |
% |
Eurobonds |
|
865 |
|
|
596 |
|
45.1 |
% |
|
|
17,296 |
|
|
11,329 |
|
52.7 |
% |
Other Credit Products |
|
44 |
|
|
44 |
|
0.0 |
% |
|
|
922 |
|
|
834 |
|
10.6 |
% |
Total Other Credit |
|
3,401 |
|
|
2,758 |
|
23.3 |
% |
|
|
70,555 |
|
|
52,410 |
|
34.6 |
% |
Rates |
|
|
|
|
|
|
|
|
|
|
|
U.S. Government Bonds 2 |
|
14,884 |
|
|
- |
|
n/a |
|
|
|
312,572 |
|
|
- |
|
n/a |
|
Agencies and Other Government Bonds 1 |
|
173 |
|
|
231 |
|
-25.1 |
% |
|
|
3,616 |
|
|
4,389 |
|
-17.6 |
% |
Total Rates |
|
15,057 |
|
|
231 |
|
6418.2 |
% |
|
|
316,188 |
|
|
4,389 |
|
7104.1 |
% |
Total Volume |
$ |
22,276 |
|
$ |
6,906 |
|
222.6 |
% |
|
$ |
466,908 |
|
$ |
131,209 |
|
255.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of U.S. Trading Days
3 |
|
21 |
|
|
19 |
|
|
|
|
|
|
|
|
Number of U.K. Trading Days
4 |
|
20 |
|
|
19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTES: |
|
|
|
|
|
|
|
|
|
|
|
1 Consistent with
FINRA TRACE reporting standards, both sides of trades are included
in the Company's reported volumes when the Company executes trades
on a matched principal basis between two counterparties. |
2 U.S. Government
Bonds represent U.S. Treasury volume traded through LiquidityEdge
LLC, which was acquired by the Company on November 1, 2019.
Consistent with industry standards, U.S. Government Bond trades are
single-counted. |
3 The number of
U.S. trading days is based on the SIFMA holiday recommendation
calendar. |
4 The number of
U.K. trading days is based on the U.K. Bank holiday schedule. |
MarketAxess Holdings
Inc.Quarterly Volume Statistics
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Daily Volume |
|
Total Trading Volume |
|
4Q19 |
|
4Q18 |
|
% Change |
|
4Q19 |
|
4Q18 |
|
% Change |
|
($ in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
U.S High Grade 1 |
|
|
|
|
|
|
|
|
|
|
|
Fixed Rate |
$ |
3,854 |
|
$ |
3,668 |
|
5.1 |
% |
|
$ |
238,959 |
|
$ |
223,737 |
|
6.8 |
% |
Floating Rate |
|
228 |
|
|
277 |
|
-17.7 |
% |
|
|
14,150 |
|
|
16,915 |
|
-16.3 |
% |
Total U.S. High Grade |
|
4,082 |
|
|
3,945 |
|
3.5 |
% |
|
|
253,109 |
|
|
240,652 |
|
5.2 |
% |
Other Credit 1 |
|
|
|
|
|
|
|
|
|
|
|
U.S. High Yield |
|
904 |
|
|
853 |
|
6.0 |
% |
|
|
56,021 |
|
|
52,035 |
|
7.7 |
% |
Emerging Markets |
|
1,901 |
|
|
1,453 |
|
30.8 |
% |
|
|
117,840 |
|
|
88,643 |
|
32.9 |
% |
Eurobonds |
|
936 |
|
|
668 |
|
40.1 |
% |
|
|
59,913 |
|
|
42,754 |
|
40.1 |
% |
Other Credit Products |
|
42 |
|
|
63 |
|
-33.3 |
% |
|
|
2,629 |
|
|
3,842 |
|
-31.6 |
% |
Total Other Credit |
|
3,783 |
|
|
3,037 |
|
24.6 |
% |
|
|
236,403 |
|
|
187,274 |
|
26.2 |
% |
Rates |
|
|
|
|
|
|
|
|
|
|
|
U.S. Government Bonds 2 |
|
9,833 |
|
|
- |
|
n/a |
|
|
|
609,650 |
|
|
- |
|
n/a |
|
Agencies and Other Government Bonds 1 |
|
174 |
|
|
234 |
|
-25.6 |
% |
|
|
10,787 |
|
|
14,345 |
|
-24.8 |
% |
Total Rates |
|
10,007 |
|
|
234 |
|
4176.5 |
% |
|
|
620,437 |
|
|
14,345 |
|
4225.1 |
% |
Total Volume |
$ |
17,872 |
|
$ |
7,216 |
|
147.7 |
% |
|
$ |
1,109,949 |
|
$ |
442,271 |
|
151.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of U.S. Trading Days
3 |
|
62 |
|
|
61 |
|
|
|
|
|
|
|
|
Number of U.K. Trading Days
4 |
|
64 |
|
|
64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTES: |
|
|
|
|
|
|
|
|
|
|
|
1 Consistent with
FINRA TRACE reporting standards, both sides of trades are included
in the Company's reported volumes when the Company executes trades
on a matched principal basis between two counterparties. |
2 U.S. Government
Bonds represent U.S. Treasury volume traded through LiquidityEdge
LLC, which was acquired by the Company on November 1, 2019.
Consistent with industry standards, U.S. Government Bond trades are
single-counted. ADV was calculated using 62 trading days.
Post-acquisition ADV for U.S. Government Bonds using the November
and December day count was $15.2 billion. |
3 The number of
U.S. trading days is based on the SIFMA holiday recommendation
calendar. |
4 The number of
U.K. trading days is based on the U.K. Bank holiday schedule. |
MarketAxess (NASDAQ:MKTX)
Historical Stock Chart
From Aug 2024 to Sep 2024
MarketAxess (NASDAQ:MKTX)
Historical Stock Chart
From Sep 2023 to Sep 2024