MarketAxess Ranks 426th in Daily Trading Activity as Volume Jumps 99.94 and Stock Slumps 1.54

On October 6, 2025, MarketAxess Holdings (MKTX) reported a trading volume of $0.27 billion, representing a 99.94% increase from the previous day, ranking 426th among stocks in terms of daily trading activity. Despite the surge in volume, the stock closed with a 1.54% decline.

Recent market activity highlights increased liquidity demand for the firm’s electronic trading platforms, driven by broader fixed-income market volatility. Analysts noted that the volume spike suggests heightened institutional participation, though the price drop indicates short-term profit-taking or hedging pressures. The firm’s performance aligns with sector-specific trends, where trading infrastructure providers face mixed investor sentiment amid shifting macroeconomic expectations.

To run this back-test rigorously I need to pin down a few details that aren’t fully specified yet: 1. Market universe • U.S. listed stocks (NYSE + NASDAQ + AMEX) – is this what you’d like? • Or another market / an existing index constituent list? 2. Volume definition • Pure share volume, or dollar volume (price × shares traded)? • Averaged over several days or just the single trading day? 3. Rebalance mechanics • Exact schedule: buy at today’s close, sell at next day’s close (1-day holding period)? • Equal-weight across the 500 names each day? 4. Trading frictions • Assume zero cost/slippage, or apply a transaction-cost estimate? Once these points are clear I can generate the daily trading signals (open & close dates) and run the strategy back-test from 2022-01-03 through today (2025-10-06).