From Nasdaq: 2024-07-04 11:00:00

MarketAxess Holdings Inc. MKTX reported significant growth in trading volumes in the second quarter of 2024, with a 12% year-over-year increase to nearly $13.7 billion. Various segments, including U.S. high-grade, emerging markets, and Eurobonds, saw notable growth. Total ADV rose 23% to $34.2 billion, showcasing positive investor sentiment.

Despite a decline in U.S. high-yield trading, MarketAxess experienced growth in ADV from Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region. The company’s order and execution workflow solution, AxessIQ, saw a 22.5% increase in ADV year over year. Client engagement with X-Pro was also strong, with 56% of portfolio trading volume executed on the platform in the second quarter.

MarketAxess had a strong second quarter, with total portfolio trading volume surging 142.8% year over year to $55 billion. Despite a slight decrease in FPM for total credit, the company’s overall performance was strong. Continued growth in trading volumes, particularly in the Eurobonds segment, is expected to support the company’s future results.

MarketAxess’ positive trends are likely to reflect in its second-quarter financial results, with estimated earnings growth of 8% year over year. The company has a strong track record of surpassing earnings estimates, making it a valuable stock to hold. MarketAxess currently has a Zacks Rank #3 (Hold), signaling favorable prospects for investors.

In the past month, MarketAxess shares have gained 2.3%, outperforming the industry average. The company’s strong performance in key trading segments has contributed to its positive stock performance. With a focus on international expansion and solid trading volume growth, MarketAxess continues to offer promising opportunities for investors.

Read more at Nasdaq: MarketAxess (MKTX) Hits High Notes in Q2 Trading Volume Surge