MarketAxess hits US$550bn in daily volume for repo
07 November 2025 US
Image: OMD/stock.adobe.com
MarketAxess Post-Trade has reported a record US$550 billion in average daily volume (ADV) for matched repo transactions in Q3 2025, up 50 per cent year-on-year (YoY).
Total trade volume on the platform grew 50 per cent YoY for the same period, to US$40 trillion, with an average of 6,000 matched repos per day.
The platform鈥檚 ecosystem currently supports 118 matching participants, with additional buy and sell side firms due to go live next quarter.
Commenting on the results, Sunil Daswani, match lead and senior sales relationship manager, says: 鈥淭his quarter鈥檚 growth underscores our commitment to driving efficiency and transparency in repo markets.
鈥淥ur focus on innovation and client collaboration continues to deliver measurable impact across our network.鈥�
Across key metrics, 92.7 per cent of activity was in open repo trades, while term repos accounted for 7.3 per cent.
Lifecycle activity remained robust, with close-outs representing 86.8 per cent of events and re-rates 13.2 per cent.
As MarketAxess Post Trade continues to scale, the firm remains focused on expanding participant connectivity and advancing automation within the repo post-trade market.
Total trade volume on the platform grew 50 per cent YoY for the same period, to US$40 trillion, with an average of 6,000 matched repos per day.
The platform鈥檚 ecosystem currently supports 118 matching participants, with additional buy and sell side firms due to go live next quarter.
Commenting on the results, Sunil Daswani, match lead and senior sales relationship manager, says: 鈥淭his quarter鈥檚 growth underscores our commitment to driving efficiency and transparency in repo markets.
鈥淥ur focus on innovation and client collaboration continues to deliver measurable impact across our network.鈥�
Across key metrics, 92.7 per cent of activity was in open repo trades, while term repos accounted for 7.3 per cent.
Lifecycle activity remained robust, with close-outs representing 86.8 per cent of events and re-rates 13.2 per cent.
As MarketAxess Post Trade continues to scale, the firm remains focused on expanding participant connectivity and advancing automation within the repo post-trade market.
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