Banc One, Goldman Sachs, HSBC, And Spear, Leeds & Kellogg Join MarketAxess Platform
Banc One Capital Markets, Goldman Sachs, HSBC, and Spear, Leeds & Kellogg have joined MarketAxess’s Internet-based, multi-dealer trading platform for credit products, bringing the total number of market making dealers to 16. The firm added that trading volume grew in the fourth quarter, bringing 2002 total volume to $48.4 billion. Trading volume for 2002 shows a 316 percent increase over 2001 total volume of $11.6 billion. Trading volume in the fourth quarter alone reached a record $17.7 billion, a 48 percent increase over third quarter 2002 volume of $11.9 billion and a 265 percent increase over fourth quarter 2001 volume of $4.8 billion.