MarketAxess Announces Monthly Volume Statistics for May 2021

Rhea-AI Summary

MarketAxess Holdings Inc. (MKTX) reported a monthly trading volume of $478.7 billion for May 2021, which includes $204.4 billion in credit volume and $274.3 billion in rates volume. This figure encompasses only fully electronic trading volume across all product categories. MarketAxess continues to lead in electronic trading and provides key market data for the global fixed-income markets. Investors can find estimated TRACE volumes on the company’s website as they await FINRA's publication of the corporate and agencies capped volume report for May.

Positive

• Monthly trading volume of $478.7 billion indicates strong market activity.
• Credit volume of $204.4 billion shows robust demand in the credit sector.
• Rates volume of $274.3 billion highlights significant trading in rates.

Negative

• None.

NEW YORK, June 02, 2021 (GLOBE NEWSWIRE) -- 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 monthly trading volume for May 2021 of $478.7 billion consisting of $204.4 billion in credit volume and $274.3 billion in rates volume.

Reported MarketAxess volume in all product categories includes only fully electronic trading volume. MarketAxess trading volumes, estimated TRACE reported volumes and Trax® processed volumes for May 2021 are available on the Company’s website at investor.marketaxess.com/volume.cfm. 

As of the date hereof, FINRA has not published the corporate and agencies capped volume report for May 2021. The Company expects to update the estimated TRACE reported volumes on its website following FINRA’s publication of the capped volume report for May 2021.

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.  The Company’s actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including: global economic, political and market factors; risks relating to the COVID-19 pandemic, including the possible effects of the economic conditions worldwide resulting from the COVID-19 pandemic; risks related to the U.K. exit from the European Union; the level of trading volume transacted on the MarketAxess platform; the rapidly evolving nature of the electronic financial services industry; 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; our ability to introduce new fee plans and our clients’ response; our ability to attract clients or adapt our technology and marketing strategy to new markets; risks related to our growing international operations; our dependence on our broker-dealer clients; the loss of any of our significant institutional investor clients; our exposure to risks resulting from non-performance by counterparties to transactions executed between our clients in which we act as an intermediary in matched principal trades; risks related to self-clearing; the effect of rapid market or technological changes on us and the users of our technology; our dependence on third-party suppliers for key products and services; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business interruptions; the occurrence of design defects, errors, failures or delays with our platforms; our vulnerability to cyber security risks; our actual or perceived failure to comply with privacy and data protection laws; 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 dependence on our management team and our ability to attract and retain talent; limitations on our flexibility because we operate in a highly regulated industry; the increasing government regulation of us and our clients; our exposure to costs and penalties related to our extensive regulation; our risks of litigation and securities laws liability; 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 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 global network of over 1,800 firms, including the world’s leading asset managers and institutional broker-dealers, leverages MarketAxess’ patented trading technology to efficiently trade bonds. 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 provides automated trading solutions, market data products and a range of pre- and post-trade services.

MarketAxess is headquartered in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com. 

Investor Relations Contact:

David Cresci
MarketAxess Holdings Inc.
+1-212-813-6027

Media Relations Contacts:

Kyle White
MarketAxess Holdings Inc.
+1-212-813-6355

William McBride
RF | Binder
+1-917-239-6726

MarketAxess Holdings Inc.
Monthly Volume Statistics

	Average Daily Volume									Total Trading Volume
	May-21			May-20			% Change			May-21			May-20			% Change
	($ in millions)
U.S High-Grade
Fixed Rate	$	4,684		$	6,371		-26.5	%		$	93,677		$	127,422		-26.5	%
Floating Rate		164			228		-28.1	%			3,287			4,559		-27.9	%
Total U.S. High-Grade		4,848			6,599		-26.5	%			96,964			131,981		-26.5	%
Other Credit
U.S. High-Yield		1,460			1,535		-4.9	%			29,201			30,696		-4.9	%
Emerging Markets		2,289			2,162		5.9	%			45,779			43,237		5.9	%
Eurobonds		1,609			1,167		37.9	%			30,563			22,181		37.8	%
Other Credit Products		93			58		60.3	%			1,869			1,155		61.8	%
Total Other Credit		5,451			4,922		10.7	%			107,412			97,269		10.4	%
Total Credit1		10,299			11,521		-10.6	%			204,376			229,250		-10.9	%
Rates
U.S. Government Bonds 2		13,538			14,339		-5.6	%			270,766			286,772		-5.6	%
Agencies and Other Government Bonds 1		180			187		-3.7	%			3,558			3,717		-4.3	%
Total Rates		13,718			14,526		-5.6	%			274,324			290,489		-5.6	%
Number of U.S. Trading Days 3		20			20
Number of U.K. Trading Days 4		19			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 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.

 

 

 

FAQ

What was MarketAxess' trading volume for May 2021?

MarketAxess reported a trading volume of $478.7 billion for May 2021.

How much was the credit volume for MarketAxess in May 2021?

The credit volume for MarketAxess in May 2021 was $204.4 billion.

What was the rates volume for MarketAxess in May 2021?

The rates volume for MarketAxess in May 2021 was $274.3 billion.

Where can I find MarketAxess' estimated TRACE volumes?

Estimated TRACE volumes can be found on MarketAxess' website at investor.marketaxess.com/volume.cfm.

When will FINRA publish the May 2021 capped volume report?

The exact date for FINRA's publication of the May 2021 capped volume report is not specified.