Record Trading Volumes Propel MarketAxess in Q1 2025 MarketAxess reported record trading volumes for March and the first quarter of 2025, with total average daily volume (ADV) hitting $46.5 billion in March, up 46% year-over-year. Q1 ADV reached $42.9 billion, driven by robust growth in portfolio and block trading, especially in emerging markets and eurobonds.12