StockNews.AI
MKTX
StockNews.AI
75 days

MarketAxess Announces Trading Volume Statistics for May 2025

1. MarketAxess reports 44% increase in total ADV in May 2025. 2. Eurobonds ADV reached $2.9 billion, driven by increased block trading. 3. Significant growth in portfolio trading and algos in U.S. government bonds. 4. Total credit FPM remains flat; rates FPM decreased due to product mix. 5. Client-initiated trading initiatives contributed to strong performance.

9m saved
Insight
Article

FAQ

Why Bullish?

Strong past performance indicates a positive outlook for MKTX, similar to precedents in Q3 2022.

How important is it?

The data showcases robust growth metrics, strengthening MKTX's competitive position in electronic trading.

Why Short Term?

Immediate trading volumes suggest MKTX's short-term growth potential and operational efficiency.

Related Companies

ICELSEGSGX

NEW YORK--(BUSINESS WIRE)-- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced trading volume and preliminary variable transaction fees per million (“FPM”) for May 2025.1

Select May 2025 Highlights* (See tables 1-1C and table 2)

  • The MarketAxess platform’s strong performance persisted in May through moderated levels of volatility, providing our clients with deep liquidity through Open Trading.
  • We delivered strong progress with our new initiatives across the client-initiated, portfolio trading and dealer-initiated channels that contributed to the strong performance in May.

Client-Initiated

  • Strong increases in block trading ADV across U.S. credit (+41%), emerging markets (+24%) and eurobonds (+116%). We launched our targeted block trading solution in U.S. credit in mid-May.
    • Block trading in emerging markets and eurobonds both benefitted from the launch of our targeted block solution in late 2024, which has generated cumulative trading volume of approximately $1.7 billion and $2.7 billion, respectively, since launch.
  • Clients continued to leverage our algos in U.S. government bond trading, helping to drive a 57% increase in ADV to $28.3 billion with estimated market share of 2.6% in May.

Portfolio Trading

  • Year-to-date May 2025, estimated market share of U.S. credit portfolio trading is 18.6%, compared to 14.1% in the prior year same period, an increase of approximately 450 basis points.2
    • 90% of all portfolio trading ADV was executed over X-Pro in May.

Dealer-Initiated

  • Dealer-initiated ADV increased 41% to $1.8 billion.

May 2025 Variable Transaction Fees Per Million1 (See table 1D)

  • The decline in total credit FPM compared to the prior year was driven principally by protocol mix. Total credit FPM was flat month-over-month.
  • The decline in total rates FPM compared to the prior year was driven by the impact of product mix. Total rates FPM was down slightly month-over-month.

*All comparisons versus May 2024 unless noted.

Table 1: MarketAxess ADV3
Month % Change
May-25 Apr-25 May-24 YoY MoM
MKTX ADV ($ millions)
Credit
Total MKTX Credit ADV $16,348 $18,360 $13,372 YoY (11)

General Notes Regarding the Data Presented

Reported MarketAxess volume in all product categories includes only fully electronic trading volume. MarketAxess trading volumes and the Financial Industry Regulatory Authority (“FINRA”) Trade Reporting and Compliance Engine (“TRACE”) reported volumes are available on the Company’s website at investor.marketaxess.com/volume.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including statements about the outlook and prospects for the Company, market conditions and industry growth, as well as statements about the Company’s future financial and operating performance...

Related News