Volume

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Latest Volume Tables: MarketAxess Volume Statistics (post May 2013 reporting format) here Spreadsheet

Archive Volume Tables: MarketAxess Volume Statistics (pre April 2013 reporting format) here Spreadsheet

 
Monthly Volume (in millions)
U.S. high-grade (1)
Other Credit
Liquid Products (2)
Total
Fixed-Rate
Floating-Rate
Jan-17
$65,771
$2,299
$48,658
$4,675
$121,403
Dec-16
56,561
1,992
37,364
5,432
101,349
Nov-16
63,908
2,014
52,831
5,198
123,951
Oct-16
58,848
1,743
45,604
6,763
112,958
Sep-16
61,413
2,308
43,248
6,451
113,420
Aug-16
57,695
2,151
36,846
7,311
104,003
Jul-16
52,897
1,982
42,727
7,118
104,724
Jun-16
61,810
2,265
48,444
5,959
118,478
May-16
58,624
1,794
41,407
6,390
108,215
Apr-16
62,673
2,161
41,317
5,432
111,583
Mar-16
63,680
2,428
46,620
5,473
118,201
Feb-16
54,048
2,506
36,290
5,034
97,878
Jan-16
52,491
2,573
34,064
4,814
93,942
Dec-15
46,020
2,067
29,994
4,925
83,006
Nov-15
44,817
2,410
28,855
5,588
81,670
Oct-15
45,178
2,756
32,408
5,351
85,693
Sep-15
44,982
2,573
29,578
5,283
82,416
Aug-15
41,556
2,176
26,650
5,129
75,511
Jul-15
46,088
2,664
28,106
4,940
81,798
Jun-15
51,902
1,944
27,537
5,282
86,665
May-15
46,914
2,418
23,945
5,534
78,811
Apr-15
43,642
2,142
26,821
6,657
79,262
Mar-15
52,215
2,518
32,400
6,421
93,554
Feb-15
43,578
2,277
25,062
5,469
76,386
Jan-15
42,194
2,600
24,157
4,785
73,736
Dec-14
39,915
2,583
19,260
6,914
68,672
Nov-14
37,816
2,496
19,801
4,246
64,359
Oct-14
45,168
2,217
25,144
5,804
78,333
Sept-14
38,740
2,245
19,736
5,602
66,323
Aug-14
29,652
1,573
15,898
5,058
52,181
Jul-14
35,751
1,751
21,127
5,005
63,634
Jun-14
36,371
2,178
18,592
5,044
62,185
May-14
36,808
1,937
18,359
5,317
62,421
Apr-14
36,791
2,216
18,060
4,364
61,431
Mar-14
38,826
2,141
18,227
5,840
65,034
Feb-14
34,984
2,013
14,896
6,307
58,200
Jan-14
39,318
1,881
16,927
6,057
64,183
Dec-13
31,907
1,854
14,713
6,858
55,332
Nov-13
32,877
1,944
13,648
5,922
54,391
Oct-13
35,617
2,293
14,733
8,901
61,544
Sep-13
41,781
2,178
15,715
5,916
65,590
Aug-13
31,614
1,382
11,890
6,080
50,966
Jul-13
34,783
2,345
15,136
5,540
57,804
Jun-13
41,381
1,721
18,779
6,717
68,598
May-13
37,291
1,733
15,784
7,685
62,493
Apr-13
34,283
1,854
15,110
5,352
56,599
Mar-13
31,343
1,495
12,943
5,698
51,479
Feb-13
31,628
1,573
13,546
5,354
52,101
Jan-13
33,765
1,441
15,277
6,296
56,779
Dec-12
25,730
989
11,146
6,018
43,883
Nov-12
33,335
1,419
13,512
6,482
54,748
Oct-12
30,146
1,091
13,317
5,893
50,447
Sep-12
29,429
839
11,968
6,025
48,261
Aug-12
26,846
816
9,530
7,227
44,419
Jul-12
26,918
1,140
11,109
5,905
45,072
Jun-12
31,670
1,022
11,635
7,866
52,193
May-12
29,017
1,001
12,028
6,612
48,658
Apr-12
26,999
961
10,244
5,722
43,926
Mar-12
35,392
1,236
13,387
8,696
58,711
Feb-12
29,934
1,029
11,425
7,599
49,987
Jan-12
29,671
1,060
10,226
8,336
49,293
Dec-11
24,263
798
6,966
8,974
41,001
Nov-11
24,965
812
7,987
8,477
42,241
Oct-11
23,953
668
9,204
8,135
41,960
Sep-11
26,177
729
8,558
9,196
44,660
Aug-11
29,381
956
9,109
7,628
47,074
Jul-11
23,675
1,076
9,134
6,046
39,931
Jun-11
27,918
965
9,826
7,332
46,041
May-11
25,159
1,731
9,250
7,866
44,006
Apr-11
24,000
1,129
10,071
7,715
42,915
Mar-11
31,069
1,298
10,624
9,239
52,230
Feb-11
25,450
697
9,337
5,533
41,017
Jan-11
25,748
943
8,636
6,605
41,932

 
 
Average Daily Trading Volume by Month (in millions)
U.S. high-grade (1)
Other Credit
Liquid Products (2)
Total
Trading Days
U.S. (3)
Europe (4)
Jan-17
$3,404
$2,402
$233
$6,039
20
21
Dec-16
2,788
1,802
259
4,849
21
20
Nov-16
3,296
2,576
259
6,131
20
22
Oct-16
3,030
2,251
338
5,619
20
21
Sep-16
3,034
2,036
306
5,376
21
22
Aug-16
2,602
1,619
318
4,539
23
22
Jul-16
2,744
2,112
355
5,211
20
21
Jun-16
2,913
2,201
271
5,385
22
22
May-16
2,877
1,997
305
5,179
21
20
Apr-16
3,087
1,967
259
5,313
21
21
Mar-16
3,005
2,151
249
5,405
22
21
Feb-16
2,828
1,795
251
4,874
20
21
Jan-16
2,898
1,769
252
4,919
19
20
Dec-15
2,186
1,375
224
3,785
22
21
Nov-15
2,486
1,486
292
4,264
19
21
Oct-15
2,283
1,528
254
4,065
21
22
Sep-15
2,265
1,391
251
3,907
21
22
Aug-15
2,082
1,280
244
3,606
21
20
Jul-15
2,216
1,264
224
3,704
22
23
Jun-15
2,448
1,252
240
3,940
22
22
May-15
2,467
1,211
277
3,955
20
19
Apr-15
2,180
1,289
317
3,786
21
20
Mar-15
2,488
1,473
292
4,253
22
22
Feb-15
2,413
1,300
288
4,001
19
20
Jan-15
2,240
1,193
239
3,672
20
21
Dec-14
1,932
882
314
3,128
22
21
Nov-14
2,240
1,075
236
3,551
18
20
Oct-14
2,145
1,132
264
3,550
22
23
Sept-14
1,952
930
267
3,149
21
22
Aug-14
1,487
762
241
2,490
21
20
Jul-14
1,705
952
227
2,884
22
23
Jun-14
1,836
885
240
2,961
21
21
May-14
1,845
881
254
2,980
21
20
Apr-14
1,857
867
208
2,932
21
20
Mar-14
1,951
868
278
3,097
21
21
Feb-14
1,947
777
332
3,056
19
20
Jan-14
1,962
799
288
3,049
21
22
Dec-13
1,608
706
327
2,641
21
20
Nov-13
1,833
708
310
2,851
19
21
Oct-13
1,723
665
404
2,792
22
23
Sep-13
2,198
781
295
3,274
20
21
Aug-13
1,500
544
276
2,320
22
21
Jul-13
1,688
683
252
2,623
22
23
Jun-13
2,155
939
336
3,430
20
20
May-13
1,774
722
350
2,846
22
21
Apr-13
1,643
692
243
2,578
22
21
Mar-13
1,642
647
285
2,574
20
20
Feb-13
1,747
708
280
2,735
19
20
Jan-13
1,676
720
299
2,695
21
22
Dec-12
1,336
562
301
2,199
20
19
Nov-12
1,738
662
323
2,723
20
22
Oct-12*
1,562
651
293
2,506
20
23
Sep-12
1,593
624
316
2,533
19
20
Aug-12
1,203
417
315
1,935
23
22
Jul-12
1,336
525
281
2,142
21
22
Jun-12
1,557
565
376
2,498
21
19
May-12
1,364
547
301
2,212
22
22
Apr-12
1,398
518
287
2,203
20
19
Mar-12
1,665
609
395
2,669
22
22
Feb-12
1,548
564
378
2,490
20
21
Jan-12
1,537
505
415
2,457
20
21
Dec-11
1,193
335
429
1,957
21
20
Nov-11
1,289
390
420
2,099
20
22
Oct-11
1,231
455
405
2,091
20
21
Sep-11
1,281
403
437
2,121
21
22
Aug-11
1,319
400
332
2,051
23
22
Jul-11
1,238
450
302
1,990
20
21
Jun-11
1,313
447
333
2,093
22
22
May-11
1,280
447
376
2,103
21
20
Apr-11
1,256
521
389
2,166
20
18
Mar-11
1,407
462
402
2,271
23
23
Feb-11
1,376
482
290
2,148
19
20
Jan-11
1,335
432
330
2,097
20
20

 
 
Quarterly Volume (in millions)
U.S. high-grade (1)
Other Credit
Liquid Products (2)
Total
Fixed-Rate
Floating-Rate
Q4 2016
$179,317
$5,749
$135,799
$17,393
$338,258
Q3 2016
172,005
6,441
122,821
20,880
322,147
Q3 2016
$172,005
$6,441
$122,821
$20,880
322,147
Q2 2016
183,107
6,220
131,168
17,781
338,276
Q1 2016
170,219
7,507
116,974
15,321
310,021
Q4 2015
136,015
7,233
91,257
15,864
250,369
Q3 2015
132,626
7,413
84,334
15,352
239,725
Q2 2015
142,458
6,504
78,303
17,473
244,738
Q1 2015
137,987
7,395
81,619
16,675
243,676
Q4 2014
122,899
7,296
64,205
16,964
211,364
Q3 2014
104,143
5,569
56,761
15,665
182,138
Q2 2014
109,970
6,331
55,011
14,725
186,037
Q1 2014
113,128
6,035
50,050
18,204
187,417
Q4 2013
100,401
6,091
43,094
21,681
171,267
Q3 2013
108,178
5,905
42,741
17,536
174,360
Q2 2013
112,955
5,308
          49,673
          19,754
       187,690
Q1 2013
96,736
4,509
          41,766
          17,348
      160,359
Q4 2012
89,211
3,499
          37,975
          18,393
       149,078
Q3 2012
83,193
2,795
          32,607
          19,157
       137,752
Q2 2012
87,686
2,984
          33,907
          20,200
       144,777
Q1 2012
94,997
3,325
          35,038
          24,631
       157,991
Q4 2011
73,181
2,278
          24,157
          25,586
       125,202
Q3 2011
79,233
2,761
          26,801
          22,870
       131,665
Q2 2011
77,077
3,825
          29,147
          22,913
       132,962
Q1 2011
82,267
2,938
28,597
21,377
135,179

 

 
 
Average Daily Volume per Quarter (in millions)
U.S. high-grade (1)
Other Credit
Liquid Products (2)
Total
Trading Days
U.S. (3)
Europe (4)
Q4 2016
$3,034
$2,207
$285
$5,526
61
63
Q3 2016
2,788
1,912
326
5,026
64
65
Q3 2016
$2,788
$1,912
$326
$5,026
64
65
Q2 2016
2,958
2,058
278
5,294
64
63
Q1 2016
2,914
1,909
251
5,074
61
62
Q4 2015
2,310
1,462
256
4,028
62
64
Q3 2015
2,188
1,313
240
3,741
64
65
Q2 2015
2,364
1,251
278
3,893
63
61
Q1 2015
2,383
1,327
273
3,983
61
63
Q4 2014
2,100
1,029
274
3,403
62
64
Q3 2014
1,714
884
245
2,843
64
65
Q2 2014
1,846
878
234
2,958
63
61
Q1 2014
1,953
816
298
3,067
61
63
Q4 2013
1,718
692
349
2,759
62
64
Q3 2013
1,783
666
274
2,723
64
65
Q2 2013
1,848
779
309
2,936
64
62
Q1 2013
1,687
692
289
2,668
60
62
Q4 2012
1,545
625
306
2,476
60
64
Q3 2012
1,365
516
304
2,185
63
64
Q2 2012
1,439
544
321
2,304
63
60
Q1 2012
1,586
560
396
2,542
62
64
Q4 2011
1,237
393
418
2,048
61
63
Q3 2011
1,281
417
357
2,055
64
65
Q2 2011
1,284
469
365
2,118
63
60
Q1 2011
1,374
459
344
2,177
62
63

 
 
Annual Volume (in millions)
U.S. high-grade (1)
Other Credit
Liquid Products (2)
Total
Fixed-Rate
Floating-Rate
2016
  $704,648
  $25,917
  $506,762
  $71,375
  $1,308,702
2015
  549,086
  28,545
  335,513
  65,364
  978,508
2015
  $549,086
  $28,545
  $335,513
  $65,364
  $978,508
2014
  450,140
  25,231
  226,027
  65,558
  766,956
2013
  418,270
  21,813
  177,274
  76,319
  693,676
2012
  355,087
  12,603
  139,527
  82,381
  589,598
2011
 311,758
 11,802
 108,702
 92,746
 525,008

 

 
 
Average Daily Trading Volume by Year (in millions)
U.S. high-grade (1)
Other Credit
Liquid Products (2)
Total
Trading Days
U.S. (3)
Europe (4)
2016
$2,922
$2,021
$285
$5,228
250
253
2015
2,311
1,338
261
3,910
250
253
2014
1,901
902
262
3,065
250
253
2013
1,760
708
305
2,773
250
253
2012
1,483
561
332
2,376
248
252
2011
1,294
434
371
2,099
          250
         251


(1) Consistent with FINRA TRACE reporting standards, both sides of trades are included in the Company's reported volumes when the Company executes trades on a riskless principal basis between two counterparties.
(2) Effective January 2012, the Company no longer reports credit default swap trading volumes. Credit default swap volumes previously reported in "Liquid Products" trading volume have not been removed.
(3) The number of U.S. trading days is based on the Securities Industry and Financial Markets Association (SIFMA) holiday recommendation calendar.
(4) The number of U.K. trading days is based on the U.K. Bank Holiday Schedule.
* October 29, 2012 and October 30, 2012 were not included as trading days due to Hurricane Sandy.