MarketAxess ADV Rises 27% to $10.6 Billion in December

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 YearAccording to the press release from Thursday, the operator of a leading electronic <a href=”https://www.financemagnates.com/terms/t/trading-platform/” target=”_blank” id=”f85800b2-ccf5-4f50-9e8e-780d32afc6f6_1″ class=”terms__main-term”>trading platform</a> 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 <a href=”https://www.financemagnates.com/terms/l/liquidity/” target=”_blank” id=”47c3bef3-27ee-4953-8504-159e1b829b33_1″ class=”terms__secondary-term”>liquidity</a> 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 VolumesData 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% <a href=”https://www.financemagnates.com/tag/yoy/” target=”_blank” rel=”follow”>YoY</a>). 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 <a href=”https://www.financemagnates.com/executives/moves/marketaxess-hires-kathryn-sweeney-as-head-of-index-and-etf-solutions/” target=”_blank” rel=”follow”>and appointed Kathryn Sweeney</a> as
Head of Index and ETF Solutions.

This article was written by Damian Chmiel at www.financemagnates.com.