MarketAxess Plunges After Total Credit Monthly ADV Falls 3%
2022.04.05 22:57
By Sam Boughedda
Investing.com — MarketAxess Holdings Inc (NASDAQ:MKTX) shares fell 11% Tuesday after it reported its monthly volume statistics for March.
The electronic trading platform said its total monthly trading volume of $895 billion was its second-best month on record.
However, the company’s total credit monthly average daily volume (ADV) of $12.4 billion was down 3% from March 2021, which looks to have worried investors.
In addition, MarketAxess also reported a record monthly emerging markets ADV of $3.2 billion, a record monthly municipal bond ADV of $294 million, and a U.S. Treasury monthly ADV of $26.1 billion.
“These strong results include record quarterly emerging markets, municipal bond and U.S. Treasury volume, reflecting the powerful diversification of our global marketplace,” commented Rick McVey, chairman and CEO of MarketAxess.
