MarketAxess reports 73% increase in European trading volumes

Open Trading European trading volumes up 73% as investors seek “smarter and more efficient ways” to approach credit markets.

MarketAxess has released its Open Trading trading volumes in the first quarter this year, revealing a record uptake in European credit product trades.

The Open Trading platform saw a 140% increase in global clients trading European credit products in the first quarter this year compared to the fourth quarter last year.

Its global clients traded $944 million of European credit products on the Open Trading platform in the first quarter this year.

MarketAxess’ European clients traded $4.8 billion across US and European credit products on its Open Trading platform in the first quarter of this year, a 73% increase compared to the fourth quarter of 2015.  

Head of European Product management at MarketAxess, Gareth Coltman, explained the company has worked its European clients to ensure the “technology meets the demands of today’s credit markets.”

Scott Eaton, MarketAxess’ chief operating officer, explained the European credit markets are still challenging as investors deal with regulatory uncertainty and a possible Brexit.

Eaton said: “We are seeing increased demand among both investors and dealers for smarter and more efficient ways to approach the market.”

Global investment banks reported severe declines in fixed income revenues in the first quarter this year, as the market continues to undergo dramatic changes.

The search for liquidity and increasing regulatory burdens means investors now seek new approaches to trading fixed income.

The fixed income electronic trading platform provider explained there is now a total of 22 dealers and over 200 European investor active users on its European Open Trading platform.