Expanding the Client Network

Strong YoY Estimated Market Share Gains U.S. HIGH-GRADE 24.0% +120 bps 22.0% 21.1% EMERGING MARKETS (FINRA TRACE-REPORTABLE)¹ U.S. HIGH-YIELD +300 bps 17.3% 34.0% 18.0% 14.3% 22.3% 12.0% 20.0% 2Q21 2Q22 EUROBONDS 18.0% 11.7% 12.0% 6.0% 2Q21 6.0% 26.4% 28.0% 22.0% 16.0% +280 bps 29.2% 10.0% 2Q21 2Q22 2Q21 2Q22 MUNICIPAL BONDS U.S. TREASURIES +170 bps +140 bps 4.5% 3.7% +340 bps 6.0% 15.1% 2Q22 4.0% 2.2% 2.0% 3.9% 3.0% 2.3% 2Q21 2Q22 1. Emerging markets estimated share is based on FINRA TRACE-reportable emerging markets volume. 1.5% 2Q21 2Q22 X Market Axess®

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