MarketAxess reports June ADV up 33.8% to $36.5B

Chris Concannon, CEO of MarketAxess, commented: “In the second quarter, we delivered 12.4% growth in total credit ADV, driven by strength in U.S. high-grade, emerging markets, municipals and Eurobonds. We exited the second quarter with U.S. high-grade estimated market share of 19.9% in June, reflecting sequential monthly improvement through the quarter. A record 56% of our portfolio trading volume was executed on X-Pro during the quarter, as momentum continues to build with the roll-out.” Total average daily volume of $36.5 billion, up 33.8% on strong growth in total credit ADV to $14.0 billion, up 14.3%, and a 49.8% increase in total rates ADV.