MarketAxess reports 87% jump in matched repo trade ADV for Q3
22 October 2024 UK
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MarketAxess has recorded the highest matched trade average daily volume (ADV) for repo matching on the platform since its inception.
The fixed income electronic trading platform reveals that ADV was up 87 per cent year-over-year (YoY) for matched repo trades in Q3 2024, representing more than US$346 billion.
Matched trade volume on the post-trade repo platform grew 90 per cent YoY for the same period, to US$22.5 trillion, with an average of 4,444 matched repos per day.
More than half of the trades on the platform (53 per cent) were matched and reconciled within less than a minute and about a third (34 per cent) within an hour.
In terms of match rate, MarketAxess indicates that the top five dealers on its platform are Goldman Sachs, Barclays, BNP Paribas, J.P. Morgan, and Deutsche Bank.
The top five dealers for volume were Barclays, J.P. Morgan, Bank of America, BNP Paribas, and Morgan Stanley.
The platform currently supports 70 matching counterparties on its post-trade repo service, with additional buy and sell side firms due to go live next quarter.
The fixed income electronic trading platform reveals that ADV was up 87 per cent year-over-year (YoY) for matched repo trades in Q3 2024, representing more than US$346 billion.
Matched trade volume on the post-trade repo platform grew 90 per cent YoY for the same period, to US$22.5 trillion, with an average of 4,444 matched repos per day.
More than half of the trades on the platform (53 per cent) were matched and reconciled within less than a minute and about a third (34 per cent) within an hour.
In terms of match rate, MarketAxess indicates that the top five dealers on its platform are Goldman Sachs, Barclays, BNP Paribas, J.P. Morgan, and Deutsche Bank.
The top five dealers for volume were Barclays, J.P. Morgan, Bank of America, BNP Paribas, and Morgan Stanley.
The platform currently supports 70 matching counterparties on its post-trade repo service, with additional buy and sell side firms due to go live next quarter.
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