MarketAxess has reported a record total trading volume for the full year in 2017 of $1.5 trillion, up more than 10% from the year prior.
The fixed income electronic trading platform set records across the board last year with total revenue and operating income also breaking previous records.
MarketAxess explained the results represent the ninth consecutive year of record trading volumes, revenues and operating income.
“These results were accomplished in spite of the difficult fixed income trading environment in 2017 that had unusually low volatility in both credit spreads and interest rates,” the firm said.
Overall revenues in 2017 were up 7.4% to $397.5 million compared to the year before. Similarly, commission revenue reached an all-time high of $355.3 million up 6.9% compared to 2016.
“As we enter 2018, we are encouraged to see signs of more normal fixed income trading conditions, including improving global economic growth and declining central bank quantitative easing,” MarketAxess added.
“Client adoption of electronic trading in fixed income continues to grow, and our international client diversification creates a valuable foundation for long term growth.”