Dan Burke Joins MarketAxess as Global Head of Emerging Markets

Rhea-AI Summary

MarketAxess Holdings Inc. (Nasdaq: MKTX) announced the appointment of Dan Burke as Global Head of Emerging Markets, responsible for developing and executing business strategy for EM trading. Burke, with extensive experience in Emerging Markets, joins from Standard Chartered where he played a key role in automating credit offerings. MarketAxess aims to enhance liquidity and efficiency internationally under Burke's leadership. Recent investments in EM trading solutions led to a record average daily volume of $3.6 billion in Q1 2024, with Latin America and Asia-Pacific clients contributing significantly to the growth.

Positive

• Dan Burke's appointment as Global Head of Emerging Markets brings valuable expertise and a dealer perspective to MarketAxess, enhancing the company's position in the EM trading business.

• MarketAxess reported a record EM average daily volume of $3.6 billion in the first quarter of 2024, reflecting a significant increase in trading activity, especially from Latin America and Asia-Pacific clients.

Negative

• Potential challenges could arise from the need to sustain the growth in Emerging Markets trading and deliver on the expectations for enhanced liquidity and efficiency under Burke's leadership.

NEW YORK & LONDON--(BUSINESS WIRE)-- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced the appointment of Dan Burke as Global Head of Emerging Markets (EM).

As Global Head of EM, Mr. Burke will be responsible for the development and execution of business strategy for the EM business in both hard currency and local markets. He will lead business and product management expansion of the company’s EM trading business across geographies and products.

Raj Paranandi, Chief Operating Officer, EMEA & APAC at MarketAxess, commented, “Dan brings a wealth of Emerging Markets experience and a valuable dealer perspective to MarketAxess at a time when adoption of and appetite for electronification of the asset class has grown significantly. There is still much more that MarketAxess can and will do to drive greater liquidity and efficiency for both investors and dealers internationally. I look forward to watching this area grow under Dan’s leadership.”

Mr. Burke most recently served as Managing Director at Standard Chartered in Singapore and London in his role as Global Head of Electronic and Algo Trading. During his time there, he played a strategic role in the automation of the firm’s credit offering and entry into algorithmic market making and portfolio trading. Prior to joining Standard Chartered, Mr. Burke held several senior credit trading roles at Deutsche Bank in Singapore and Bank of America Merrill Lynch in Tokyo and Hong Kong.

“I’m delighted to be joining MarketAxess, a leading solution for Emerging Markets trading, and a platform that I have been a client of for over 20 years. MarketAxess is well positioned to accelerate the delivery of innovative solutions in Emerging Markets globally, and I look forward to partnering with all market participants to take our offering to the next level,” said Mr. Burke.

Mr. Burke is based in London and reports to Raj Paranandi.

The MarketAxess EM trading solution serves over 1,600 market participants in over 120 countries. Recent investments include the expansion of Open Trading for Emerging Markets local currency bonds, growth of Request-for-Market to support larger EM trades, and new country-specific protocols like Casada in Brazil. MarketAxess reported record EM average daily volume of $3.6 billion, up 17.3%, in the first quarter of 2024. Latin America and Asia-Pacific clients generated record levels of average daily volume in the quarter, up 11.1% and 54.8%, respectively. MarketAxess was also recognized as “Best Secondary Market Trading Platform” by Global Capital at their 2023 Bond Awards.

About MarketAxess

MarketAxess (Nasdaq: MKTX) operates a leading electronic trading platform that delivers greater trading efficiency, a diversified pool of liquidity and significant cost savings to institutional investors and broker-dealers across the global fixed-income markets. Over 2,000 firms leverage MarketAxess’ patented technology to efficiently trade fixed-income securities. MarketAxess’ award-winning Open Trading^® marketplace is widely regarded as the preferred all-to-all trading solution in the global credit markets. Founded in 2000, MarketAxess connects a robust network of market participants through an advanced full trading lifecycle solution that includes automated trading solutions, intelligent data and index products and a range of post-trade services. Learn more at www.marketaxess.com and on X @MarketAxess.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240429796315/en/

INVESTOR RELATIONS

Stephen Davidson

MarketAxess Holdings Inc.

+1 212 813 6313

sdavidson2@marketaxess.com

MEDIA RELATIONS

Marisha Mistry

MarketAxess Holdings Inc.

+1 917 267 1232

mmistry@marketaxess.com

Source: MarketAxess Holdings Inc.

FAQ

Who is the new Global Head of Emerging Markets at MarketAxess?

The new Global Head of Emerging Markets at MarketAxess is Dan Burke.

What was the recent record average daily volume reported by MarketAxess in Emerging Markets?

MarketAxess reported a record average daily volume of $3.6 billion in the first quarter of 2024 in Emerging Markets.

Which regions contributed significantly to the growth in trading activity for MarketAxess?

Latin America and Asia-Pacific clients contributed significantly to the growth in trading activity for MarketAxess.

What award did MarketAxess receive in 2023 for its trading platform?

MarketAxess was awarded 'Best Secondary Market Trading Platform' by Global Capital at their 2023 Bond Awards.