Global Head of Trading Solutions, Marketaxess Holdings Inc
MarketAxess CEO reports record monthly trading volume in March
MarketAxess CEO Rick McVey gives insight into the electronic credit trading platform and what metric he will be keeping an eye on this year.
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About Richard Schiffman
Richard Schiffman, Global Head of Trading Solutions at MarketAxess, has been associated with the company's recent performance commentary. In April 2021, MarketAxess CEO Rick McVey discussed the company's record monthly trading volume in March, noting that the company surpassed the previous year's levels despite difficult comparisons. McVey stated that the company had "a great quarter" and attributed the results to client support for the trading platform. He emphasized that MarketAxess's focus has been primarily on credit markets, including high grade, high yield, emerging markets, and municipal bonds, which he described as historically less liquid instruments)Skip
Transcript (5 segments)
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Jim Cramer0:10
Came out this evening that is not what I said.
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Richard Schiffman0:13
That's exactly right, Jim. We had a great quarter, and all thanks to our clients for the tremendous support they have for our trading platform around the world. But you know, look, you know the story. These are going to be tough comps for any companies like ours in the trading and exchange space, given the huge volumes that went through last spring. I came into March thinking that if we could get anywhere close to last year's levels, it would be a big win, and we actually surpassed last March and set new records. So it was a great month for the business and really a great record quarter as well.
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Jim Cramer0:53
Okay, now a lot of people will be saying, well, wait a second, there'll be record treasury issuance, but the fact is...
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Richard Schiffman1:11
Primarily credit markets, high grade, high yield, emerging markets, municipal bonds, and other credit instruments that historically are less liquid. And it's been a great business for us and it continues to grow. We think we've been the fastest grower in the space for the past decade and feel really proud of our results the first quarter to kick off the new year.
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Narrator1:33
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