MarketAxess sees returns from new trading tools
Recently added portfolio trading, automation, and algo offerings drove the vendor’s revenue growth in Q4 2023.
The growing uptake of new trading capabilities launched in the last year began to filter through in fixed-income trading giant MarketAxess’s Q4 2023 results.
Most notably, revenues of $197 million, up 11% relative to the same quarter the previous year, were lifted by $7.6 million from newly acquired algo provider Pragma.
Meanwhile, the amount of portfolio trades executed using the company’s new trading platform, X-Pro, rose from 18% in Q3 to 30% in Q4. And automation suite Adaptive Auto-X also
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