GlobeNewswire Inc | Oct 5, 2020 08:00AM EDT

October 05, 2020

NEW YORK, Oct. 05, 2020 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced monthly trading volume for September 2020 of $461.0 billion consisting of $206.2 billion in credit volume and $254.8 billion in rates volume.

The Company also reported preliminary variable transaction fees per million (FPM) for the quarter ended September 30, 2020 of $199 for U.S. high-grade, $208 for other credit, $204 for total credit and $4.10 for rates. The FPM for the quarter ended September 30, 2020 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.

Reported MarketAxess volume in all product categories includes only fully electronic trading volume. MarketAxess trading volumes, TRACE reported volumes and Trax processed volumes are available on the Companys website at investor.marketaxess.com/volume.cfm

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including statements about the outlook and prospects for Company and industry growth, as well as statements about the Companys future financial and operating performance. These and other statements that relate to future results and events are based on MarketAxess current expectations. The Companys actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including: risks relating to the COVID-19 pandemic, including the possible effects of the economic conditions worldwide resulting from the COVID-19 pandemic; global economic, political and market factors; the volatility of financial services markets generally; the level of trading volume transacted on the MarketAxess platform; the absolute level and direction of interest rates and the corresponding volatility in the corporate fixed-income market; 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; the rapidly evolving nature of the electronic financial services industry; our ability to introduce new fee plans and our clients response; 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; our dependence on our broker-dealer clients; the loss of any of our significant institutional investor clients; our ability to develop new products and offerings and the markets acceptance of those products; the effect of rapid market or technological changes on us and the users of our technology; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business interruptions; our vulnerability to cyber security risks; our ability to protect our intellectual property rights or technology and defend against intellectual property infringement or other claims; our ability to enter into strategic alliances and to acquire other businesses and successfully integrate them with our business; our ability to comply with new and existing laws, rules and regulations both domestically and internationally; our ability to maintain effective compliance and risk management methods; the strain of growth initiatives on management and other resources; our future capital needs and our ability to obtain capital when needed; limitations on our operating flexibility contained in our credit agreement; 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 operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets. A global network of over 1,700 firms, including the worlds leading asset managers and institutional broker-dealers, leverages MarketAxess patented trading technology to efficiently trade bonds. MarketAxess award-winning Open Trading marketplace is regarded as the preferred all-to-all trading solution in the global credit markets, creating a unique liquidity pool for a broad range of credit market participants. Drawing on its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services.

MarketAxess is headquartered in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, San Francisco, So Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.

Investor Relations Contact:

David CresciMarketAxess Holdings Inc.+1-212-813-6027

Media Relations Contacts:

Kyle WhiteMarketAxess Holdings Inc.+1-212-813-6355

William McBrideRF | Binder +1-917-239-6726

MarketAxess Holdings Inc.Monthly Volume Statistics

Average Daily Volume Total Trading Volume Sep-20 Sep-19 % Sep-20 Sep-19 % Change Change ($ in millions) U.S High-GradeFixed Rate $ 4,767 $ 4,177 14.1 % $ 100,103 $ 83,541 19.8 %Floating 165 258 -36.0 % 3,471 5,169 -32.8 %RateTotal U.S. 4,932 4,435 11.2 % 103,574 88,710 16.8 %High-GradeOther CreditU.S. 1,487 988 50.5 % 31,222 19,763 58.0 %High-YieldEmerging 2,193 2,079 5.5 % 46,058 41,570 10.8 %MarketsEurobonds 1,096 1,038 5.6 % 24,117 21,792 10.7 %OtherCredit 58 39 48.7 % 1,220 772 58.0 %ProductsTotalOther 4,834 4,144 16.7 % 102,617 83,897 22.3 %CreditTotal 9,766 8,579 13.8 % 206,191 172,607 19.5 %Credit^1Rates U.S.Government 11,899 - n/a 249,883 - n/a Bonds ^2Agenciesand Other 233 176 32.4 % 4,929 3,537 39.4 %GovernmentBonds ^1Total 12,132 176 NM 254,812 3,537 NM Rates Number ofU.S. 21 20 TradingDays^ 3Number ofU.K. 22 21 TradingDays^ 4 NOTES: ^1 Consistent with FINRA TRACE reporting standards, both sides of trades areincluded in the Company's reported volumes when the Company executes trades ona matched principal basis between two counterparties.^2 U.S. Government Bonds represent U.S. treasury volume traded through theMarketAxess Rates platform, formerly known as LiquidityEdge, which was acquiredby the Company on November 1, 2019. 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 recommendationcalendar.^4 The number of U.K. trading days is based on the U.K. Bank holiday schedule.

MarketAxess Holdings Inc.Quarterly Volume Statistics

Average Daily Volume Total Trading Volume 3Q20 3Q19 % 3Q20 3Q19 % Change Change ($ in millions) U.S High-GradeFixed Rate $ 4,622 $ 3,829 20.7 % $ 295,781 $ 245,027 20.7 %Floating 148 264 -44.0 % 9,450 16,918 -44.1 %RateTotal U.S. 4,770 4,093 16.5 % 305,231 261,945 16.5 %High-GradeOther Credit U.S. 1,387 953 45.5 % 88,785 60,988 45.6 %High-YieldEmerging 2,023 2,057 -1.6 % 129,475 131,616 -1.6 %MarketsEurobonds 960 921 4.3 % 62,423 59,846 4.3 %Other Credit 51 41 24.4 % 3,237 2,647 22.3 %ProductsTotal Other 4,421 3,971 11.3 % 283,920 255,097 11.3 %CreditTotal Credit 9,191 8,064 14.0 % 589,151 517,042 13.9 %^1Rates U.S.Government 11,651 - n/a 745,692 - n/a Bonds ^2Agencies andOther 234 182 28.6 % 14,984 11,661 28.5 %GovernmentBonds ^1Total Rates 11,885 182 NM 760,676 11,661 NM Number ofU.S. Trading 64 64 Days^ 3Number ofU.K. Trading 65 65 Days^ 4 NOTES: ^1 Consistent with FINRA TRACE reporting standards, both sides of trades areincluded in the Company's reported volumes when the Company executes trades ona matched principal basis between two counterparties.^2 U.S. Government Bonds represent U.S. treasury volume traded through theMarketAxess Rates platform, formerly known as LiquidityEdge, which was acquiredby the Company on November 1, 2019. 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 recommendationcalendar.^4 The number of U.K. trading days is based on the U.K. Bank holiday schedule.