MarketAxess sees Eurobond trading boom

Trax data shows European Q2 trading volumes surged, as MarketAxess reports mass increase in Eurobond volumes.

Fixed income market operator MarketAxess has reported a Eurobond trading boom, with a record second quarter following the EU referendum.

Eurobond trade volumes were up 126% in the second quarter this year, compared to the same period last year, reaching $35.6 billion.

The company’s overall trade volume across products increased 38% year-on-year in the second quarter of 2016, with trade volume records set for most.

UK 10-year gilt volumes also surged post-Brexit, whilst overall government bonds market volumes remained relatively flat, according to data composed by MarketAxess subsidiary, Trax.  

Chief operating officer at MarketAxess, Scott Eaton, told The Trade: “Overall fixed income market volumes have remained subdued, despite the volatility injected by Brexit. 

“Particularly in the corporate bond market, it would appear that the pressure from Brexit was met by the ECB bond buying programme, resulting in lower than expected market activity,” he added.

Trax reported overall credit market trading volumes in Europe surged 15% year-on-year in the second quarter.

Trading volumes, particularly in the month of June this year, have surged across the industry following the UK’s decision to leave the EU.

Dark pool operator ITG reported its platform POSIT, experienced a sharp increase in trading activity immediately after the referendum.

The London Stock Exchange witnessed a 38% increase in the number of trades executed in June compared to the last year.


This article was corrected following a minor misclassification in reference data.