MarketAxess’ $0.41 Billion Volume Surge Propels It to 284th in Stock Market Activity Amid Volatile Investor Sentiment

On October 2, 2025, MarketAxess Holdings (MKTX) reported a trading volume of $0.41 billion, a 180.2% increase from the previous day, ranking 284th in stock market activity. The stock closed 0.73% lower despite the surge in volume, reflecting mixed investor sentiment amid broader market dynamics.

Recent developments highlight evolving trading behavior in fixed-income markets, with MarketAxess’ electronic trading platform experiencing heightened activity as institutional investors adjust strategies in response to shifting yield differentials. The firm’s focus on transparent execution and risk management tools has drawn renewed attention from portfolio managers seeking to optimize liquidity in a volatile environment.

Analysts note that the volume spike aligns with broader trends in bond trading, where algorithmic execution and program trading have amplified short-term volatility. While MarketAxess’ infrastructure remains a key player in facilitating secondary market transactions, persistent macroeconomic uncertainties continue to temper near-term price momentum for the equity.

To run this back-test accurately I need to pin down a few implementation details: 1. Market universe • Are we talking about the full U.S.-listed stock universe (NYSE + Nasdaq + AMEX) or a specific subset (e.g., only S&P 500 members)? 2. Daily selection & execution rules • Do you want the position opened at the same-day close and exited at the next-day close (i.e., Close-to-Close return), or opened at the next-day open and exited at the next-day close (Open-to-Close)? • Equal-weight each of the 500 names for the one trading day? 3. Transaction-cost assumptions • Should I include any bid/ask slippage or commissions? If so, at what rate? Once I have these details I can prepare the data-retrieval plan, fetch the daily volume rankings, and run the one-day-hold strategy from 2022-01-03 through today.