MarketAxess Posts 27% Jump in Total Credit ADV in December 2022

MarketAxess Holdings Inc., 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 December 2022 and preliminary variable transaction fees per million (FPM) for the month of December and the quarter ended December 31, 2022.

MarketAxess achieves 27% increase in total credit average daily volume (ADV) to $10.6 billion, and 26% increase in U.S. high-grade ADV to $5.1 billion with estimated market share of 23.4%.  U.S. high-yield ADV reached $1.6 billion, up 25% with record estimated market share of 21.4%. Emerging markets ADV was $2.1 billion, down slightly.

In December, MarketAxess reports record 19.6% estimated Eurobonds market share, up from 14.4%. $1.4 billion in Eurobonds ADV, representing an increase of 56%. $473 million in municipal bond ADV with record estimated market share of 5.5%. The preliminary FPM for total credit for December was $165, compared to $163 in November.

In Q4 2022, MarketAxess' total credit ADV was $12.0 billion, up 24% compared to the same period in the last year. The preliminary FPM for total credit for the quarter was $164.0, compared to $165.6 in 3Q22.

Chris Concannon, President and COO of MarketAxess commented: "We delivered another strong month with a 27% increase in total credit ADV, driven by a 26% increase in U.S. 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 liquidity pool. "