Expanding the Client Network
Strong Momentum in Portfolio Trading Activity
HIGHLIGHTS
• Record total Portfolio Trading volume of $22.8 billion in
2Q22
• Record $37 billion in Portfolio Trading volume in 1H22
• Record 534 trades executed in 1H22
• 96 active client firms in 1H22
• Record growth driven by Portfolio Trading strategy:
Leverage global credit investor and dealer networks
Deliver enhanced technology solution
Integrate data and analytics
ESTIMATED PORTFOLIO TRADING MARKET VOLUME
AND ESTIMATED SHARE OF MARKET¹
TRACE Portfolio Trading Volume
Estimated % of Total HG + HY TRACE
140
$131
7.0%
$120
Volume (in $ billions)
120
100
ཤྲཱ ཎྜ ⌘ ཋ ༄ 。 ;
$105
$96
$99
6.0%
$89
5.0%
$78
80
$48
40
4.0%
3.0%
2.0%
20
1.0%
2Q22
Estimated % of Market
Volume (in $ billions)
RECORD PORTFOLIO TRADING VOLUME
25
20
15
10
10
5
$8.9
$13.1
$13.9
....il
$2.2
$3.0
$4.1
4Q20
1Q21
2Q21
RECORD PORTFOLIO TRADING METRICS*
*Trading volume in $ billions.
1. Estimated Portfolio Trading market volume defined as U.S. high-grade and U.S. high-yield only. Estimated market share defined as estimated U.S.
high-grade and U.S. high-yield Portfolio Trading market volume divided by total U.S. high-grade and U.S. high-yield TRACE market volume.
Active Clients
96
3Q21
4Q21
1Q22
$36.7
534
44
193
$7.1
Trade Count
=1H21
=1H22
Trading Volume
X Market Axess®
25
2Q22
$22.8View entire presentation