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Average Daily Volume by Type
Monitors trading volumes across different product types, indicating market activity levels and the company's ability to capture trading demand.Rates-led ADV has re-accelerated into early‑2026 while credit ADV is also at multi‑year highs, reflecting rising block, portfolio and automation activity that underpins the company’s recent commission and revenue records. Management cautioned April had volatile, noisy reporting (TRACE duplicates) and mix-driven fee pressure, but DirectBooks new‑issue pilot, closing-auction work and strong EM traction give MarketAxess a credible path to convert higher volumes into durable market‑share and fee recovery — near‑term measurement noise and fee mix remain the primary risks to that conversion.
Date | Credit | Rates |
|---|---|---|
Jun 30, 2026 | $16.85B | $26.22B |
Mar 31, 2026 | $18.63B | $31.17B |
Dec 31, 2025 | $15.38B | $22.50B |
Sep 30, 2025 | $14.54B | $24.30B |
Jun 30, 2025 | $16.80B | $32.20B |
Mar 31, 2025 | $15.92B | $26.98B |
Dec 31, 2024 | $13.88B | $27.15B |
Sep 30, 2024 | $14.12B | $26.40B |
Jun 30, 2024 | $13.74B | $20.43B |
Mar 31, 2024 | $14.98B | $17.65B |