MarketAxess sees returns from new trading tools
Recently added portfolio trading, automation, and algo offerings drove the vendor’s revenue growth in Q4 2023.
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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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