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MarketAxess November trading volume drops 44 pct
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NEW YORK - MarketAxess Holdings Inc., an operator of an electronic-trading platform for corporate bonds and other fixed-income securities, said Friday that trading volume dropped 44 percent in November.
Total trading volume fell to $13.6 billion last month from $24.2 billion reported a year ago.
U.S. high-grade volume fell to $8.1 billion from $13.3 billion last year, while European high-grade volume dipped to $2.6 billion from $3.5 billion.
Other trading volume tumbled to $2.9 billion during the month from $7.4 billion in November 2007.
Shares of MarketAxess fell 26 cents to $5.34 in morning trading.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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