Press Releases

Unedited news and product information from vendors.

MarketAxess Announces Monthly Volume Statistics for July 2007
Aug 07, 2007 (06:08 AM EDT)


NEW YORK, Aug. 7 /PRNewswire-FirstCall/ -- MarketAxess Holdings Inc. , the operator of a leading electronic trading platform for U.S. and European high-grade corporate bonds, emerging markets bonds and other types of fixed-income securities, today announced total monthly trading volume for July 2007 of $31.6 billion, consisting of $16.9 billion in U.S. high-grade volume, $6.0 billion in European high-grade volume, and $8.7 billion in other volume.

MarketAxess has also posted trading volume data for July on its website ( www.marketaxess.com ). Monthly volume updates are posted in the Investor Relations section of the website on or before the tenth business day of each month. The data provide current month and historical volume totals on a monthly, quarterly and annual basis.

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 Company's future financial and operating performance. These and other statements that relate to future results and events are based on MarketAxess' current expectations. Actual results in future periods may differ materially from the those currently expected or desired because of a number of risks and uncertainties, including: our dependence on our broker-dealer clients; 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 limited operating history; 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; our ability to develop new products and offerings and the market's acceptance of those products; our ability to enter into strategic alliances and to acquire other businesses and successfully integrate them with our business; our future capital needs and our ability to obtain capital when needed; our exposure to risks resulting from non-performance by counterparties to transactions executed between our broker-dealer clients in which we act as an intermediary in matching back-to-back trades; and other factors. The Company's actual results and financial condition may differ, perhaps materially, from the anticipated results and financial condition in any such forward-looking statements. 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 one of the leading platforms for the electronic trading of corporate bonds and certain other types of fixed-income securities, serving as an electronic platform through which our more than 675 active institutional investor clients can access the liquidity provided by our 30 broker-dealer clients. MarketAxess' multi-dealer trading platform allows our institutional investor clients to simultaneously request competitive, executable bids or offers from multiple broker-dealers, and to execute trades with the broker-dealer of their choice. MarketAxess offers our clients the ability to trade U.S. high-grade corporate bonds, European high-grade corporate bonds, credit default swaps, agencies, high-yield and emerging markets bonds. MarketAxess also provides data and analytical tools that help our clients make trading decisions, and we facilitate the trading process by electronically communicating order information between trading counterparties. Our DealerAxess(R) trading service allows dealers to trade fixed-income securities with each other on our platform. For more information, please visit www.marketaxess.com .

MarketAxess Trading Volume: Quarterly Totals Quarterly Volume ($ millions) U.S. High-Grade(1)(2) Multi- Single- European Dealer Dealer High-Grade Other(3) Total 2007 Q2 $ 62,496 $ 5,047 $ 23,777 $ 20,093 $ 111,413 Q1 55,891 4,937 28,340 15,289 104,457 2006 Q4 52,077 4,384 22,125 13,372 91,958 Q3 44,627 5,134 18,733 15,259 83,753 Q2 39,117 4,154 22,784 13,370 79,425 Q1 40,603 5,339 23,971 14,585 84,498 2005 Q4 35,882 3,308 17,256 12,859 69,305 Q3 35,727 3,336 16,253 13,329 68,645 Q2 43,776 900 16,961 10,456 72,093 Q1 54,753 22,888 11,524 89,165 2004 Q4 49,445 16,909 12,937 79,292 Q3 44,866 18,412 11,405 74,683 Q2 44,192 17,560 7,352 69,104 Q1 45,008 23,616 6,358 74,982 2003 Q4 44,022 12,342 6,820 63,184 Q3 43,895 9,045 5,277 58,217 Q2 31,373 6,109 4,455 41,937 Q1 20,015 4,309 3,560 27,884 2002 Q4 14,212 1,786 1,689 17,687 Q3 9,558 835 1,529 11,922 Q2 8,577 1,004 935 10,516 Q1 7,091 559 672 8,322 Average Daily Trading Volume by Quarter ($ millions) U.S. European Trading Days High-Grade High-Grade Other(3) Total U.S.(4) Europe(5) (1)(2) 2007 Q2 $ 1,072 $ 390 $ 319 $ 1,781 63 61 Q1 981 443 247 1,671 62 64 2006 Q4 911 351 216 1,478 62 63 Q3 790 293 242 1,325 63 64 Q2 698 380 216 1,294 62 60 Q1 741 375 235 1,351 62 64 2005 Q4 642 274 211 1,127 61 63 Q3 610 250 208 1,068 64 65 Q2 698 269 163 1,130 64 63 Q1 898 369 189 1,456 61 62 2004 Q4 798 273 209 1,279 62 62 Q3 712 297 181 1,190 63 62 Q2 713 279 119 1,110 62 63 Q1 714 375 101 1,190 63 63 2003 Q4 710 193 110 1,013 62 64 Q3 686 139 82 907 64 65 Q2 498 100 71 669 63 61 Q1 328 68 58 455 61 63 2002 Q4 229 29 27 285 62 62 Q3 149 13 24 186 64 64 Q2 141 16 15 172 61 61 Q1 116 9 11 136 61 63 (1) Beginning with June 2006 monthly trading volumes, volumes from the Company's DealerAxess(R) interdealer trading service are included in the Company's reported U.S. high- grade or "Other" trading volumes, as appropriate. All DealerAxess(R) trading activity is conducted anonymously, and MarketAxess Corporation acts as riskless principal in all DealerAxess(R) transactions; accordingly, and consistent with NASD TRACE reporting standards, both sides of each DealerAxess(R) trade are included in the Company's reported trading volumes. (2) Effective June 2005 the Company began reporting separately U.S. High- Grade single-dealer inquiries. (3) Effective September 2005 the Company began reporting credit default swaps trading volumes in "Other" trading volume. (4) The number of U.S. trading days is based on the Securities Industry and Financial Markets Association (SIFMA) holiday recommendation calendar. (5) The number of U.K. trading days is based on the U.K. Bank Holiday Schedule.

CONTACT: Stephen Davidson of MarketAxess Holdings Inc., +1-212-813-6021,or Sharron Silvers of Gavin Anderson & Co., +1-212-515-1931, forMarketAxess Holdings Inc.

Web site: http://www.marketaxess.com/