Bonds trading platform MarketAxess hits 7-month high after strong volumes in August

MarketAxess Holdings

05/09/2024 16:38

** Shares of MarketAxess  MKTX.O  up 6.3% at $257.11,
trading near a 7-month high
    ** Stock top gainer on the S&P 500  .SPX 
    ** The bond trading platform registered a near 40% jump y/y
in total average daily volume at $41.6 bln led by trading in
U.S. high grade credit assets
    ** Transaction fees per million for total credit was about
$154 last month, in line with $154 in the prior year, but up
from $143 in July 2024 
    ** Last month, MKTX reported a 8% rise in Q2 quarter profit
due to robust trading activity in high-grade corporate debt and
government bonds
    ** Stock down 17.4% YTD compared to a 15% rise in SPX

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))