MarketAxess reports 22% YoY increase in matched repo trades in Q3
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MarketAxess reports 22% YoY increase in matched repo trades in Q3 24 October 2022UK Reporter: Carmella Haswell
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MarketAxess has revealed a 22 per cent year-over-year increase in matched repo trades for Q3 2022, representing more than 160,000 matched trades across the platform.
The platform recorded a 120 per cent YoY jump in matched lifecycle events to 6500 for Q3 2022, representing an average of 100 matched lifecycle events per day.
It currently supports 57 matching counterparties on its post-trade repo service, with additional buy- and sell-side firms due to go live this quarter.
In terms of match rate, MarketAxess indicates that the top five dealers on its platform are Deutsche Bank, J.P. Morgan, BOFA Securities, BNP Paribas and Goldman Sachs.
In volume terms, the five top dealers are J.P. Morgan, Barclays, BNP Paribas, Nomura and Deutsche Bank.
Commenting on the quarter results, Colleen Stapleton, product manager for match and repo products at MarketAxess, says: “We are pleased to report strong growth and increasing market share in our post-trade repo business in Q3.
“The need for post-trade automation remains crucial for firms requiring the agility and flexibility to thrive in a competitive market. We look forward to continuing to help new and existing clients through our efficient post-trade repo solution.”
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