What does MarketAxess stand for?

MarketAxess Holdings Inc. ( MarketAxess) is an international financial technology company that operates an electronic trading platform for the institutional credit markets, and also provides market data and post-trade services.

What is a market axe?

While any market maker can contribute to liquidity, the designation of a market axe typically implies an entity with significant influence and a prominent role in shaping pricing and market dynamics. Not all market makers attain the level of influence associated with being referred to as a market axe.

What is ax & how does it work?

Ax is the moniker given to the market maker who is most central to the price action of a specific security across tradable exchanges. Ax is the moniker given to the market maker who is most central to the price action of a specific security across tradable exchanges.

How do day traders identify the AX?

Many day traders attempt to identify the ax in a given security and trade in the same direction as the market maker as a way to increase their odds of success. Often, there are many market makers in a given stock and it takes time to determine which of them tends to control the price action.