MarketAxess Holdings (NASDAQ:MKTX), the operator of a leading electronic trading platform for fixed-income securities, reported record total credit average daily volume (ADV) for both March 2026 and the first quarter ended March 31, 2026, driven by a surge in portfolio and block trading activity.
The company achieved a record total portfolio trading ADV of $2.3 billion in March, representing a 48% increase compared to the prior year.
This growth was underpinned by record performances across multiple segments, including U.S. high-grade portfolio trading ADV of $1.4 billion and a 119% jump in U.S. high-yield portfolio trading.
MarketAxess estimated its market share of U.S. credit portfolio trading at 21.9% for the month.
In the client-initiated channel, block trading ADV grew 23% to $7 billion.
The company saw record U.S. credit block ADV of $4.1 billion, supported by record volumes in emerging markets and eurobonds.
Open Trading® ADV also reached new heights, reflecting increased secondary market liquidity on the platform.
For the first quarter of 2026, MarketAxess reported record ADV across U.S. high-grade, emerging markets, eurobonds, and municipal bonds.
Emerging markets block trading ADV rose 34% to $2.3 billion, while municipal bonds continued to show momentum with record portfolio trading activity.