BofA Trading Trove: Record IPO & retail derivatives activity in June

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BofA Trading Trove: Record IPO & retail derivatives activity in June

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Exchanges

BofA Trading Trove: Record IPO & retail

derivatives activity in June

Industry Overview

Comprehensive monthly data on US market structure 06 July 2026

In this monthly report, we synthesize data from public and private sources to examine Equity

the trajectory of revenues within our market structure coverage. We intend to provide a United States

data-driven view into all the latest developments across our exchange coverage in one Exchanges

convenient place. We track near-term data points on volatility, volume, market share, Eli Abboud

issuance, margin levels and fee rates. We also track long-term indicators such as Research Analyst

securities outstanding and commodity production. By leveraging transaction-level TRACE BofAS+1 646 855 5791

data as well as proprietary data from Glimpse Markets and Coalition Greenwich, we have eli.abboud@bofa.com

assembled particularly comprehensive data on US corporate bond market share, which Craig Siegenthaler, CFA

Research Analyst

we view as differentiated relative to other sellside trackers. BofAS

+1 646 855 5004

Favor TW over MKTX into tomorrow’s monthly craig.siegenthaler@bofa.com

Kareem Seif

We predict that Tradeweb (TW) will gain approximately 130bps of corporate bond Research Analyst

market share m/m while MarketAxess (MKTX) will lose approximately 60bps of market BofAS

+1 646 855 5759

share in June. The protocols where TW excels (sessions, portfolio trading) accounted for kareem.seif@bofa.com

a higher proportion of US corporate bond trading m/m. Indeed, portfolio trading Ivory Gao

comprised 15.6% of TRACE this month, which was a record. This follows 14.3% of Research Analyst BofAS