Expanding the Client Network

40% Our powerful network offers a greater source of diverse global liquidity Pre-2000 One to few One investor (center blue) can trade with a few dealers over the phone. Pre-Crisis One to more One investor can trade with up to 30 dealers on MarketAxess. OPEN TRADING PERCENT OF TOTAL CREDIT VOLUME Crisis One to many MarketAxess expanded the liquidity pool to include over 90 major and regional dealers. OPEN TRADING VOLUME BY PRODUCT 2Q21 Today All-to-all Open Trading allows global market participants to trade with over 1,700 investor and dealer firms. 2Q22 35% 30% 25% 20% 15% 10% 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 $ billions 120 ↑ 6% YoY 100 $107 $100 80 60 ↑ 17% YoY 6% YoY 40 $52 $45 $45 $42 20 ↓3% YoY $23 $23 U.S. High-Grade U.S. High- Yield Emerging Markets Eurobonds X Market Axess® 7

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