MarketAxess Sees Record Market Shares in U.S. High-yield for September 2022

MarketAxess Holdings Inc. (MarketAxess), 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, has announced monthly trading volume for September 2022.

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September 2022 highlights (All comparisons versus September 2021 unless otherwise noted):

• Estimated market share exceeded 20% across three major product areas for the first time in its history, with U.S. high-yield achieving record estimated market share of 21.3%, an increase of 730 basis points, joining U.S high-grade and emerging markets with estimated market share in excess of 20%.

• $32.6 billion in total trading average daily volume ("ADV"), up 23%, driven by a 20% increase in total credit ADV to $12.2 billion and a 24% increase in U.S. Treasury ADV to $19.9 billion.

• 21.4% composite corporate bond estimated market share, up from 17.9%.

• 21.7% estimated U.S. high-grade estimated market share, up from 20.1%, on ADV of $5.7 billion, representing an increase of 24%.

• Record 21.3% estimated U.S. high-yield market share, up from 14.0%, on ADV of $1.8 billion, representing an increase of 38%.

• Emerging markets ADV of $2.8 billion, up 6%; up approximately 11% excluding the impact of foreign currency fluctuations.

• Record 18.3% Eurobonds estimated market share, up from 13.8%, on ADV of $1.5 billion, representing an increase of 2%; up approximately 20% excluding the impact of foreign currency fluctuations.

• 4.2% municipal bond estimated market share, up from 2.5%, on ADV of $360 million.

• Record $10.1 billion in portfolio trading.

• 3.8% U.S. Treasury estimated market share, up from 3.0%, on a 24% increase in ADV.