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MarketAxess (MKTX) Trading Volumes Continue to Expand
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NewYork-based leading multi-dealer trading platform MarketAxess Holdings Inc. (MKTX - Free Report) recently announced its total trading volume for the month of Dec 2016. The total volume of $101.3 billion, was up 22% year over year but down 18.2% from the total trading volume reported for the month of November.
The company has maintained its trend of increasing trading volumes since the past many quarters. In the last reported quarter, total trading volume increased 34.4%. Significant growth in trading volumes and consequently revenue and earnings is reflected in its share price which increased 42.6% in 2016, outperforming 22.6% growth for the Zacks categorized Securities Exchanges industry. Also, over the last 90 days, the Zacks Consensus Estimate for the current fiscal year’s earnings increased 1.5%. Given its progress on the fundamentals, the stock is likely to keep performing well in the quarters ahead.
Coming back, the total trading volume in December represents 7.7% of the total trading volume in 2016.
The company has been able to consistently increase its trading volume driven by growth in emerging markets volume as well as in Open Trading volume. Also, increased participation of international clients is fueling volume growth in overseas markets.
More specifically, the company is witnessing increased participation by Europe and an expansion of Open Trading into Asia. MarketAxess’ European trading business continues to grow. The company is gaining Eurobond market share and seeing healthy growth in trading volumes in emerging markets and U.S. credit products from European clients.
Furthermore, Private Axes – a protocol that allows bond market participants to anonymously negotiate block trades to minimize information leakage – is another growth driver. It was introduced by MarketAxess to offer investment grade and high yield corporate bond, emerging market debt, agency and Eurobond trading. This has largely supported MarketAxess to continuously set records on trading volumes.
Zacks Rank and Stocks to Consider
MarketAxess presently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the finance sector are BATS Global Market, Inc. , Nasdaq, Inc. (NDAQ - Free Report) and Arch Capital Group Ltd. (ACGL - Free Report) . While BATS Global carries a Zacks Rank #1 (Strong Buy), the other two stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BATS Global posted positive surprises in the past three quarters with an average beat of 15.11%.
Arch Capital posted positive surprises in each of the last four quarters with an average beat of 9.27%.
Nasdaq posted positive surprises in two out of the last four quarters with an average beat of 1.42%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
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MarketAxess (MKTX) Trading Volumes Continue to Expand
NewYork-based leading multi-dealer trading platform MarketAxess Holdings Inc. (MKTX - Free Report) recently announced its total trading volume for the month of Dec 2016. The total volume of $101.3 billion, was up 22% year over year but down 18.2% from the total trading volume reported for the month of November.
The company has maintained its trend of increasing trading volumes since the past many quarters. In the last reported quarter, total trading volume increased 34.4%. Significant growth in trading volumes and consequently revenue and earnings is reflected in its share price which increased 42.6% in 2016, outperforming 22.6% growth for the Zacks categorized Securities Exchanges industry. Also, over the last 90 days, the Zacks Consensus Estimate for the current fiscal year’s earnings increased 1.5%. Given its progress on the fundamentals, the stock is likely to keep performing well in the quarters ahead.
Coming back, the total trading volume in December represents 7.7% of the total trading volume in 2016.
The company has been able to consistently increase its trading volume driven by growth in emerging markets volume as well as in Open Trading volume. Also, increased participation of international clients is fueling volume growth in overseas markets.
More specifically, the company is witnessing increased participation by Europe and an expansion of Open Trading into Asia. MarketAxess’ European trading business continues to grow. The company is gaining Eurobond market share and seeing healthy growth in trading volumes in emerging markets and U.S. credit products from European clients.
Furthermore, Private Axes – a protocol that allows bond market participants to anonymously negotiate block trades to minimize information leakage – is another growth driver. It was introduced by MarketAxess to offer investment grade and high yield corporate bond, emerging market debt, agency and Eurobond trading. This has largely supported MarketAxess to continuously set records on trading volumes.
Zacks Rank and Stocks to Consider
MarketAxess presently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the finance sector are BATS Global Market, Inc. , Nasdaq, Inc. (NDAQ - Free Report) and Arch Capital Group Ltd. (ACGL - Free Report) . While BATS Global carries a Zacks Rank #1 (Strong Buy), the other two stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BATS Global posted positive surprises in the past three quarters with an average beat of 15.11%.
Arch Capital posted positive surprises in each of the last four quarters with an average beat of 9.27%.
Nasdaq posted positive surprises in two out of the last four quarters with an average beat of 1.42%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>