For MarketAxess, portfolio trading buoys flat revenue in Q3
The vendor is betting on new platforms like X-Pro and Adaptive Auto-X, which helped forge a record quarter for platform usage.
MarketAxess said in July that it would set its sights on proprietary data and automation to bring more clients to its platforms and offset losses caused by low volatility, and during its Q3 earnings call on October 25, the fixed-income trading giant reported record levels of volume and traders using its platforms.
“Our current franchise has never been stronger with a record number of over 2,000 active clients across 67 countries,” CEO Chris Concannon said during the call, though revenue was
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