Exness, a multi-asset broker headquartered in Cyprus, has released its financial report [3a4dea44]. The report highlighted exceptional performance across multiple segments in the current quarter. The report revealed a significant surge in trading volume during August, reaching an impressive $4.52 trillion, making it the highest trading volume month of the year. September's trading volume slightly decreased to $4.43 trillion. It remained strong compared to the previous year when August and September 2022 recorded volumes of $2.81 trillion and $2.74 trillion, respectively [3a4dea44].
One of the key drivers behind Exness's success has been the company's ability to navigate market volatility and adapt to changing market conditions. Despite the slight dip in trading volume in September, Exness has managed to maintain its strong performance [3a4dea44].
The financial report also highlighted the company's strong performance in other areas. Exness has demonstrated resilience and growth in the face of challenges, showcasing its ability to deliver consistent results [3a4dea44].
MarketAxess Holdings Inc., a leading electronic trading platform, has also reported a substantial increase in trading volumes across several categories for the first quarter ended March 31, 2024 [df480dda]. The company witnessed a record total credit average daily trading volume (ADV) of $15.0 billion, marking a 9.2% rise from the previous year. Significant growth was observed in U.S. high-grade ADV, which surged by 18.0% to reach a record $7.5 billion. Emerging markets also experienced a notable uptick with a 17.3% increase in ADV, totaling a record $3.6 billion. The Eurobonds sector also reached a new high with a 10.6% increase in ADV to $2.0 billion. However, U.S. high-yield ADV fell by 29.4% to $1.4 billion [df480dda].
Despite the slight dip in trading volume in certain sectors, both Exness and MarketAxess have demonstrated strong performance in their respective markets. Exness's ability to adapt to market conditions and deliver consistent results sets it apart in the industry [3a4dea44]. MarketAxess CEO Chris Concannon noted the record levels of ADV across product areas and the role of the new MarketAxess X-Pro in increasing client engagement [df480dda].
In other financial news, Hargreaves Lansdown, a stockbroker based in Bristol, has reported impressive financial performance in the first three months of the year [a398e6c8]. The firm attracted £1.6bn worth of new business and managed a record £149.7bn worth of assets. Hargreaves Lansdown also saw a significant increase in the number of new clients, with 34,000 new clients in the period, up 48% compared to the previous year. The total number of active clients now stands at 1,858,000. The company's revenue for the period reached £199.7m, a 6% increase. The CEO, Dan Olley, expressed delight with the business's performance. Share dealing volumes averaged 794,000 per month in the quarter, and overseas deal volumes accounted for 23.6% of total deals [a398e6c8].
Hargreaves Lansdown's strong financial performance is attributed to increased dealing volumes and higher platform revenue from higher asset under administration (AUA) levels [a398e6c8].