MarketAxess Q1 trading volume and Eurobonds ADV increase, showcasing potential growth.

From Nasdaq: 2024-04-04 11:37:00

MarketAxess Holdings Inc. recorded a total credit ADV of nearly $15 billion in the first quarter of 2024, a 9.2% increase year over year. U.S. high-grade ADV rose 18%, emerging markets ADV increased by 17.3%, and Eurobonds ADV grew by 10.6%. Eurobonds ADV saw a 24% jump in March alone. U.S. high-yield trading activity on the platform decreased by 29% year over year.

The company’s ADV from Latin America and Asia-Pacific clients increased, showcasing its expanding international presence. The order and execution workflow solution AxessIQ saw a 22.2% year-over-year increase to $140.1 million ADV. Despite a product mix shift affecting first-quarter FPM for total credit, total portfolio trading volume surged by 40.6% to $44.2 billion.

MarketAxess Holdings Inc. expects first-quarter results to benefit from higher trading volumes and a strong performance in Eurobonds. The Zacks Consensus Estimate for earnings in Q1 is $1.84 per share, with a predicted 3.7% year-over-year revenue growth to $210.7 million. MarketAxess currently holds a Zacks Rank #3 (Hold).

Coinbase Global, Inc., Burford Capital Limited, and Axos Financial, Inc. are better-ranked stocks in the finance space with Zacks Ranks of #1 (Strong Buy) and #2 (Buy), respectively. MarketAxess, Coinbase, Burford, and Axos Financial all have positive growth outlooks with potential for strong performance in the coming period.

Read more at CNBC: MarketAxess (MKTX) Q1 Trading Volume, Eurobonds ADV Jump