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Marketaxess Holdings Inc

MarketAxess Announces Trading Volume Statistics for June and Second Quarter 2025

Surpassed $1 Trillion in Total Credit Quarterly Trading Volume for the First Time; Record $2 Trillion in Total Rates Volume

43% Increase in Total Trading ADV in 2Q25 Driven by 22% Increase in Total Credit ADV and 58% Increase in Total Rates ADV

NEW YORK--(BUSINESS WIRE)--Jul. 7, 2025-- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced trading volume and preliminary variable transaction fees per million (“FPM”) for June 2025 and the second quarter ended June 30, 2025.1

Select Second Quarter Trading Records

  • Total trading average daily volume (“ADV”) of$49.0 billion
  • Total credit ADV of $16.8 billion
  • U.S. high-grade ADV of $7.8 billion
  • Emerging markets ADV of $4.0 billion
  • Eurobonds ADV of $2.7 billion
  • Municipal bonds ADV of $643 million
  • Total portfolio trading ADV of $1.5 billion
  • Total Open Trading ADV of $5.0 billion
  • Total rates ADV of $32.2 billion

Select Second Quarter 2025 Highlights* (See tables 1-1C and table 2)

  • The MarketAxess platform’s strong year-over-year volume growth continued in June as volatility moderated through the quarter.
  • We delivered strong progress with our new initiatives across the client-initiated, portfolio trading and dealer-initiated channels that contributed to the record level of trading volumes across most products in the second quarter of 2025.

Client-Initiated Channel

  • Strong growth in block trading ADV with record ADV acrossU.S. credit block trading increasing 37%, emerging markets increasing 27%, and eurobonds increasing 100%.
    • Block trading in emerging markets and eurobonds both benefitted from the launch of our targeted block solution in late 2024, which has generated cumulative trading volume of approximately $2.0 billionand$3.8 billion,respectively,since launch.
  • Clients continued to leverage our algos in U.S. government bond trading, helping to drive a 57% increase in ADV to $30.8 billion with estimated market share of 2.6%.

Portfolio Trading Channel

  • Estimated market share of U.S. credit portfolio trading was 17.5%, compared to 15.1% in the prior year.2

Dealer-Initiated Channel

  • Dealer-initiated ADV increased 40% to $1.8 billion, including record levels ofeurobonds activity.

Second Quarter 2025 Variable Transaction Fees Per Million1 (See table 1D)

  • The decline in total credit FPM compared to the prior year was driven principally by protocol mix. The slight decline compared to 1Q25 was driven principally by protocol mix.
  • The decline in total rates FPM both quarter-over-quarter and year-over-year was driven by the impact of product mix.

*All comparisons versus second quarter 2024 unless noted.

Table 1: MarketAxess ADV3

Month   % Change Quarter   % Change
Jun-25   May-25   Jun-24   MoM YoY

 

2Q25

 

 

1Q25

 

 

2Q24

  QoQ YoY
MKTX ADV ($ millions)            
Credit            
U.S. High-Grade

$

6,998

 

$

7,649

 

$

6,622

 

(9

)

%

6

%

$

7,760

 

$

7,562

 

$

6,436

 

3

%

21

%

U.S. High-Yield

 

1,497

 

 

1,602

 

 

1,252

 

(7

)

20

 

1,692

 

 

1,475

 

 

1,337

 

15

27

Emerging Markets

 

4,172

 

 

3,615

 

 

3,601

 

15

 

16

 

4,018

 

 

3,939

 

 

3,337

 

2

20

Eurobonds

 

2,411

 

 

2,870

 

 

2,012

 

(16

)

20

 

2,681

 

 

2,348

 

 

2,103

 

14

27

Other Credit Products3

 

580

 

 

612

 

 

559

 

(5

)

4

 

644

 

 

598

 

 

530

 

8

22

Municipal Bonds

 

579

 

 

611

 

 

549

 

(5

)

5

 

643

 

 

594

 

 

522

 

8

23

Total MKTX Credit ADV

$

15,658

 

$

16,348

 

$

14,046

 

(4

)

11

$

16,795

 

$

15,922

 

$

13,743

 

5

22

Rates            
U.S. Government Bonds

$

25,804

 

$

28,293

 

$

21,521

 

(9

)

%

20

%

$

30,756

 

$

25,936

 

$

19,634

 

19

%

57

%

Agencies and Other Government Bonds

 

1,641

 

 

1,589

 

 

934

 

3

 

76

 

1,458

 

 

1,047

 

 

792

 

39

84

Total MKTX Rates ADV

$

27,445

 

$

29,882

 

$

22,455

 

(8

)

22

$

32,214

 

$

26,983

 

$

20,426

 

19

58

Total MKTX Trading ADV

$

43,103

 

$

46,230

 

$

36,501

 

(7

)

18

$

49,009

 

$

42,905

 

$

34,169

 

14

43

             
U.S. Trading Days4

 

20

 

 

21

 

 

19

 

 

62

 

 

61

 

 

63

 
U.K. Trading Days4

 

21

 

 

19

 

 

20

 

 

60

 

 

63

 

 

61

 
             

Table 1A: Market ADV

Month   % Change Quarter   % Change
Jun-25   May-25   Jun-24   MoM YoY

 

2Q25

 

 

1Q25

 

 

2Q24

  QoQ YoY
MARKET ADV ($ millions)            
Credit            
U.S. High-Grade TRACE

$

35,517

 

$

39,652

 

$

33,250

 

(10

)

%

7

 

%

$

40,010

 

$

41,910

 

$

34,333

 

(5

)

%

17

%

U.S. High-Yield TRACE

 

12,096

 

 

13,171

 

 

9,007

 

(8

)

34

 

 

13,296

 

 

12,419

 

 

9,898

 

7

 

34

Total U.S. Credit TRACE

 

47,613

 

 

52,823

 

 

42,257

 

(10

)

13

 

 

53,306

 

 

54,329

 

 

44,231

 

(2

)

21

Municipal Bonds MSRB

 

10,234

 

 

10,306

 

 

7,047

 

(1

)

45

 

 

12,017

 

 

9,347

 

 

7,043

 

29

 

71

             
Rates            
U.S. Government Bonds TRACE

$

1,019,410

 

$

1,106,252

 

$

910,468

 

(8

)

%

12

 

%

$

1,162,485

 

$

1,002,379

 

$

867,708

 

16

 

%

34

%

Agency TRACE

 

2,729

 

 

4,032

 

 

2,888

 

(32

)

(6

)

 

3,623

 

 

4,290

 

 

3,343

 

(16

)

8

             
U.S. Trading Days4

 

20

 

 

21

 

 

19

 

 

62

 

 

61

 

 

63

 
U.K. Trading Days4

 

21

 

 

19

 

 

20

 

 

60

 

 

63

 

 

61

 
             

Table 1B: Estimated Market Share5

Month   % Change   Quarter   Bps Change
Jun-25   May-25   Jun-24   MoM   YoY  

2Q25

 

 

1Q25

 

 

2Q24

 

  QoQ   YoY
MKTX ESTIMATED MARKET SHARE (%)                  
U.S. High-Grade                  
% of U.S. High-Grade TRACE (incl. SD PT)5

20.2

%

 

19.9

%

 

20.2

%

  +30 bps  

–

 

bps  

19.8

%

 

18.6

%

 

19.2

%

  +120 bps   +60 bps
% of U.S. High-Grade TRACE (excl. SD PT)5

19.7

%

 

19.3

%

 

19.9

%

  +40 bps  

(20

)

bps  

19.4

%

 

18.0

%

 

18.7

%

  +140 bps   +70 bps
U.S. High-Yield                  
% of U.S. High-Yield TRACE (incl. SD PT)5

13.0

%

 

12.4

%

 

14.1

%

  +60 bps  

(110

)

bps  

13.2

%

 

12.4

%

 

13.8

%

  +80 bps  

(60

)

bps
% of U.S. High-Yield TRACE (excl. SD PT)5

12.4

%

 

12.2

%

 

13.9

%

  +20 bps  

(150

)

bps  

12.7

%

 

11.9

%

 

13.5

%

  +80 bps  

(80

)

bps
Other Credit Products                  
% of Municipal Bonds MSRB

5.7

%

 

5.9

%

 

7.8

%

 

(20

)

bps  

(210

)

bps  

5.4

%

 

6.4

%

 

7.4

%

 

(100

)

bps  

(200

)

bps
Rates                  
% of U.S. Government Bonds TRACE

2.5

%

 

2.6

%

 

2.4

%

 

(10

)

bps   +10 bps  

2.6

%

 

2.6

%

 

2.3

%

 

–

 

bps   +30 bps
                 

Table 1C: Strategic Priorities ADV2

Month   % Change Quarter   % Change
Jun-25   May-25   Jun-24   MoM   YoY

 

2Q25

 

 

1Q25

 

 

2Q24

  QoQ YoY
STRATEGIC PRIORITIES ADV ($ millions)              
Client-Initiated Channel              
U.S. Credit Block Trading

$

2,672

 

$

3,070

 

$

2,292

 

(13

)

%

 

17

%

$

3,172

 

$

2,942

 

$

2,322

 

8

 

%

37

%

Emerging Markets Block Trading

 

1,860

 

 

1,451

 

 

1,469

 

28

 

 

27

 

1,626

 

 

1,562

 

 

1,283

 

4

 

27

Eurobonds Block Trading

 

462

 

 

637

 

 

235

 

(27

)

 

97

 

529

 

 

407

 

 

265

 

30

 

100

Portfolio Trading Channel              
Total MKTX Portfolio Trading2

$

1,193

 

$

1,455

 

$

868

 

(18

)

%

 

37

%

$

1,481

 

$

1,284

 

$

875

 

15

 

%

69

%

Total MKTX U.S. Credit Portfolio Trading2

 

874

 

 

1,013

 

 

685

 

(14

)

 

28

 

1,112

 

 

1,070

 

 

724

 

4

 

54

Total U.S. Credit TRACE Portfolio Trading2

 

5,640

 

 

6,041

 

 

4,407

 

(7

)

 

28

 

6,355

 

 

5,697

 

 

4,789

 

12

 

33

Dealer-Initiated Channel              
Total Dealer Initiated (DRFQ & Mid-X)

$

1,683

 

$

1,781

 

$

1,365

 

(6

)

%

 

23

%

$

1,795

 

$

1,856

 

$

1,283

 

(3

)

%

40

%

Other              
Open Trading

$

4,553

 

$

4,777

 

$

3,960

 

(5

)

%

 

15

%

$

5,030

 

$

4,769

 

$

3,951

 

5

 

%

27

%

AxessIQ

 

158

 

 

189

 

 

140

 

(16

)

 

13

 

176

 

 

159

 

 

134

 

11

 

31

               
U.S. Trading Days4

 

20

 

 

21

 

 

19

   

 

62

 

 

61

 

 

63

 
U.K. Trading Days4

 

21

 

 

19

 

 

20

   

 

60

 

 

63

 

 

61

 
               

Table 1D: Variable Transaction Fees Per Million (FPM)1

Month   % Change Quarter   % Change
Jun-25   May-25   Jun-24   MoM YoY

 

2Q25

 

 

1Q25

 

 

2Q24

  QoQ YoY
AVG. VARIABLE TRANS. FEE PER MILLION (FPM)            
Total Credit

$

137

 

$

138

 

$

147

 

(1

)

%

(7

)

%

$

138

 

$

139

 

$

148

 

(1

)

%

(7

)

%

Total Rates

 

3.93

 

 

4.06

 

 

4.32

 

(3

)

(9

)

 

3.90

 

 

4.20

 

 

4.44

 

(7

)

(12

)

1

The FPM for total credit and total rates for June 2025 and second quarter 2025 are preliminary and may be revised in subsequent updates and public filings. The Company undertakes no obligation to update any fee information in future press releases.

2

Due to variances in how portfolio trading market participants utilized the portfolio trading TRACE “flag,” the Company previously used its own internal methodology for calculating portfolio trading as an estimated percentage of TRACE volume and the Company’s estimated market share. Starting in June 2024, the Company utilized the portfolio trading TRACE flag in its reported portfolio trading TRACE volume and the Company’s portfolio trading estimated market share.

3

“Other Credit Products” includes municipal bonds, leveraged loans, convertible bonds and structured products.

4

The number of U.S. trading days is based on the SIFMA holiday recommendation calendar and the number of U.K. trading days is based primarily on the U.K. Bank holiday schedule.

5

“SD PT” is defined as single-dealer portfolio trades. The Company is currently highlighting the impact of single-dealer portfolio trading volume on U.S. high-grade and U.S. high-yield trading volume and estimated market share, but will continue to exclude single-dealer portfolio trading activity from each product’s aggregated trading volume and estimated market share and the total credit FPM calculation.

General Notes Regarding the Data Presented

Reported MarketAxess volume in all product categories includes only fully electronic trading volume. MarketAxess trading volumes and the Financial Industry Regulatory Authority (“FINRA”) Trade Reporting and Compliance Engine (“TRACE”) reported volumes are available on the Company’s website at investor.marketaxess.com/volume.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including statements about the outlook and prospects for the Company, market conditions and industry growth, as well as statements about the Company’s future financial and operating performance. These and other statements that relate to future results and events are based on MarketAxess’ current expectations. The Company’s actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including: global economic, political and market factors; the level of trading volume transacted on the MarketAxess platform; the rapidly evolving nature of the electronic financial services industry; the level and intensity of competition in the fixed-income electronic trading industry and the pricing pressures that may result; the variability of our growth rate; our ability to introduce new fee plans and our clients’ response; our ability to attract clients or adapt our technology and marketing strategy to new markets; risks related to our growing international operations; our dependence on our broker-dealer clients; the loss of any of our significant institutional investor clients; our exposure to risks resulting from non-performance by counterparties to transactions executed between our clients in which we act as an intermediary in matched principal trades; risks related to self-clearing; risks related to sanctions levied against states or individuals that could expose us to operational or regulatory risks; the effect of rapid market or technological changes on us and the users of our technology; issues related to the development and use of artificial intelligence; our dependence on third-party suppliers for key products and services; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business interruptions; the occurrence of design defects, errors, failures or delays with our platforms, products or services; our vulnerability to malicious cyber-attacks and attempted cybersecurity breaches; our actual or perceived failure to comply with privacy and data protection laws; our ability to protect our intellectual property rights or technology and defend against intellectual property infringement or other claims; our use of open-source software; our ability to enter into strategic alliances and to acquire other businesses and successfully integrate them with our business; our dependence on our management team and our ability to attract and retain talent; limitations on our flexibility because we operate in a highly regulated industry; the increasing government regulation of us and our clients; risks related to the divergence of U.K. and European Union legal and regulatory requirements following the U.K.’s exit from the European Union; our exposure to costs and penalties related to our extensive regulation; our risks of litigation and securities laws liability; our tax filing positions; the effects of climate change or other sustainability risks that could affect our operations or reputation; our future capital needs and our ability to obtain capital when needed; limitations on our operating flexibility contained in our credit agreement; our exposure to financial institutions by holding cash in excess of federally insured limits; and other factors. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. More information about these and other factors affecting MarketAxess’ business and prospects is contained in MarketAxess’ periodic filings with the Securities and Exchange Commission and can be accessed at www.marketaxess.com.

About MarketAxess

MarketAxess (Nasdaq: MKTX) operates a leading electronic trading platform that delivers greater trading efficiency, a diversified pool of liquidity and significant cost savings to institutional investors and broker-dealers across the global fixed-income markets. Approximately 2,100 firms leverage MarketAxess’ patented technology to efficiently trade fixed-income securities. Our automated and algorithmic trading solutions, combined with our integrated and actionable data offerings, help our clients make faster, better-informed decisions on when and how to trade on our platform. MarketAxess’ award-winning Open Trading® marketplace is widely regarded as the preferred all-to-all trading solution in the global credit markets. Founded in 2000, MarketAxess connects a robust network of market participants through an advanced full trading lifecycle solution that includes automated trading solutions, intelligent data and index products and a range of post-trade services. Learn more at www.marketaxess.com and on X @MarketAxess.

Table 2: Trading Volume Detail

 

 

 

 

 

Month Ended June 30,

 

 

In millions (unaudited)

 

 

2025

 

 

2024

 

 

% Change

 

 

 

 

 

Volume

 

 

ADV

 

 

Volume

 

 

 

ADV

 

 

Volume

 

 

ADV

 

 

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High-grade

 

 

$

139,950

 

 

$

6,998

 

 

$

125,814

 

 

 

$

6,622

 

 

 

11

 

%

 

6

 

%

High-yield

 

 

 

29,942

 

 

 

1,497

 

 

 

23,788

 

 

 

 

1,252

 

 

 

26

 

 

 

20

 

 

Emerging markets

 

 

 

83,438

 

 

 

4,172

 

 

 

68,426

 

 

 

 

3,601

 

 

 

22

 

 

 

16

 

 

Eurobonds

 

 

 

50,632

 

 

 

2,411

 

 

 

40,231

 

 

 

 

2,012

 

 

 

26

 

 

 

20

 

 

Other credit

 

 

 

11,599

 

 

 

580

 

 

 

10,608

 

 

 

 

559

 

 

 

9

 

 

 

4

 

 

Total credit trading1

 

 

 

315,561

 

 

 

15,658

 

 

 

268,867

 

 

 

 

14,046

 

 

 

17

 

 

 

11

 

 

Rates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government bonds2

 

 

 

516,084

 

 

 

25,804

 

 

 

408,907

 

 

 

 

21,521

 

 

 

26

 

 

 

20

 

 

Agency and other government bonds1

 

 

 

34,360

 

 

 

1,641

 

 

 

18,550

 

 

 

 

934

 

 

 

85

 

 

 

76

 

 

Total rates trading

 

 

 

550,444

 

 

 

27,445

 

 

 

427,457

 

 

 

 

22,455

 

 

 

29

 

 

 

22

 

 

Total trading

 

 

$

866,005

 

 

$

43,103

 

 

$

696,324

 

 

 

$

36,501

 

 

 

24

 

 

 

18

 

 

Number of U.S. Trading Days3

 

 

 

 

 

 

20

 

 

 

 

 

 

 

19

 

 

 

 

 

 

 

 

 

 

Number of U.K. Trading Days4

 

 

 

 

 

 

21

 

 

 

 

 

 

 

20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended June 30,

 

 

In millions (unaudited)

 

 

2025

 

 

2024

 

 

% Change

 

 

 

 

 

Volume

 

 

ADV

 

 

Volume

 

 

 

ADV

 

 

Volume

 

 

ADV

 

 

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High-grade

 

 

$

481,090

 

 

$

7,760

 

 

$

405,440

 

 

 

$

6,436

 

 

 

19

 

%

 

21

 

%

High-yield

 

 

 

104,897

 

 

 

1,692

 

 

 

84,248

 

 

 

 

1,337

 

 

 

25

 

 

 

27

 

 

Emerging markets

 

 

 

249,091

 

 

 

4,018

 

 

 

210,205

 

 

 

 

3,337

 

 

 

18

 

 

 

20

 

 

Eurobonds

 

 

 

160,873

 

 

 

2,681

 

 

 

128,266

 

 

 

 

2,103

 

 

 

25

 

 

 

27

 

 

Other credit

 

 

 

39,965

 

 

 

644

 

 

 

33,376

 

 

 

 

530

 

 

 

20

 

 

 

22

 

 

Total credit trading1

 

 

 

1,035,916

 

 

 

16,795

 

 

 

861,535

 

 

 

 

13,743

 

 

 

20

 

 

 

22

 

 

Rates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government bonds2

 

 

 

1,906,892

 

 

 

30,756

 

 

 

1,236,917

 

 

 

 

19,634

 

 

 

54

 

 

 

57

 

 

Agency and other government bonds1

 

 

 

87,625

 

 

 

1,458

 

 

 

48,506

 

 

 

 

792

 

 

 

81

 

 

 

84

 

 

Total rates trading

 

 

 

1,994,517

 

 

 

32,214

 

 

 

1,285,423

 

 

 

 

20,426

 

 

 

55

 

 

 

58

 

 

Total trading

 

 

$

3,030,433

 

 

$

49,009

 

 

$

2,146,958

 

 

 

$

34,169

 

 

 

41

 

 

 

43

 

 

Number of U.S. Trading Days3

 

 

62

 

 

 

 

 

 

63

 

 

 

 

 

 

 

 

Number of U.K. Trading Days4

60

 

61

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table 2: Trading Volume Detail (continued)

 

 

 

 

 

Year-to-Date Ended June 30,

 

 

In millions (unaudited)

 

 

2025

 

 

2024

 

 

% Change

 

 

 

 

 

Volume

 

 

ADV

 

 

Volume

 

 

 

ADV

 

 

Volume

 

 

ADV

 

 

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High-grade

 

 

$

942,398

 

 

$

7,662

 

 

$

861,438

 

 

 

$

6,947

 

 

 

9

 

%

 

10

 

%

High-yield

 

 

 

194,894

 

 

 

1,585

 

 

 

169,627

 

 

 

 

1,368

 

 

 

15

 

 

 

16

 

 

Emerging markets

 

 

 

489,376

 

 

 

3,979

 

 

 

431,632

 

 

 

 

3,481

 

 

 

13

 

 

 

14

 

 

Eurobonds

 

 

 

308,790

 

 

 

2,510

 

 

 

257,115

 

 

 

 

2,074

 

 

 

20

 

 

 

21

 

 

Other credit

 

 

 

76,447

 

 

 

621

 

 

 

59,705

 

 

 

 

481

 

 

 

28

 

 

 

29

 

 

Total credit trading1

 

 

 

2,011,905

 

 

 

16,357

 

 

 

1,779,517

 

 

 

 

14,351

 

 

 

13

 

 

 

14

 

 

Rates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government bonds2

 

 

 

3,488,973

 

 

 

28,366

 

 

 

2,282,713

 

 

 

 

18,409

 

 

 

53

 

 

 

54

 

 

Agency and other government bonds1

 

 

 

153,450

 

 

 

1,248

 

 

 

80,132

 

 

 

 

646

 

 

 

91

 

 

 

93

 

 

Total rates trading

 

 

 

3,642,423

 

 

 

29,614

 

 

 

2,362,845

 

 

 

 

19,055

 

 

 

54

 

 

 

55

 

 

Total trading

 

 

$

5,654,328

 

 

$

45,971

 

 

$

4,142,362

 

 

 

$

33,406

 

 

 

37

 

 

 

38

 

 

Number of U.S. Trading Days3

 

 

 

 

 

 

123

 

 

 

 

 

 

 

124

 

 

 

 

 

 

 

 

 

 

Number of U.K. Trading Days4

 

 

 

 

 

 

123

 

 

 

 

 

 

 

124

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 Consistent with FINRA TRACE reporting standards, both sides of trades are included in the Company's reported volumes when the Company executes trades on a matched principal basis between two counterparties.

 

 

2 Consistent with industry standards, U.S. government bond trades are single-counted.

 

 

3 The number of U.S. trading days is based on the SIFMA holiday recommendation calendar.

 

 

4 The number of U.K. trading days is based primarily on the U.K. Bank holiday schedule.

 

 

 

 

 

 

INVESTOR RELATIONS
Stephen Davidson
MarketAxess Holdings Inc.
+1 212 813 6313
sdavidson2@marketaxess.com

MEDIA RELATIONS
Marisha Mistry
MarketAxess Holdings Inc.
+1 917 267 1232
mmistry@marketaxess.com

Source: MarketAxess Holdings Inc.