Percentage of Portfolio Trading revenues in November will be donated to help feed New Yorkers in need
MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced its Trading for Turkeys charity initiative to support City Harvest. Under the initiative, MarketAxess will make a charitable contribution equal to 25% of its U.S. High-Grade and U.S. High-Yield Portfolio Trading revenues during the month of November to City Harvest’s Repack to Give Back program to help feed New York City families during the holiday season. In addition, the MarketAxess Charitable Foundation will be City Harvest’s official 2023 Turkey sponsor.
This marks the fifth year that MarketAxess has worked with City Harvest in New York. Over the years, MarketAxess has helped rescue and deliver 772,000 lbs. of food in partnership with City Harvest. As this year’s official Turkey sponsor, the MarketAxess Charitable Foundation will help to rescue and deliver more than 116,000 lbs. of food to New Yorkers in need in November alone.
“We are thrilled to kick off our Trading for Turkeys program with an esteemed partner like City Harvest,” said Kevin McPherson, Chief Revenue Officer at MarketAxess. “Portfolio Trading is the perfect avenue to begin this venture as more and more traders look to PT for its efficiency, integration with CP+™ and full range of accurate, real-time pricing and analytics. As the official Turkey sponsor for 2023, we look forward to working with City Harvest to deliver food to those in need.”
“Three million New Yorkers are struggling to make ends meet, and the holiday season can be a particularly challenging time for those experiencing food insecurity,” said Erika Martinez, Associate Director of Business Partnerships at City Harvest. “We are grateful to MarketAxess for their partnership, which will allow us to rescue and deliver food for our neighbors in need this holiday season. We look forward to many more productive years working together.”
This year’s Trading for Turkeys program will focus on Portfolio Trading at MarketAxess. The recently updated protocol allows traders to customize their views and access new and improved analytics for a seamless execution experience through the next generation trading platform, MarketAxess X-Pro. In the third quarter of 2023, Portfolio Trading total volume on MarketAxess was $27.5 billion, up 11.1% from the third quarter of 2022.
City Harvest is New York’s first and largest food rescue organization, helping to feed millions of New Yorkers who struggle to put meals on their tables. The need for food in New York City continues to outpace pre-pandemic levels. Compared to 2019, average monthly visits to New York City food pantries and soup kitchens this year remain up more than 60%. City Harvest programs alone are seeing nearly one million more visits each month than in 2019. The number of visits is nearly as high as at any point over the last three years.
MarketAxess (Nasdaq: MKTX) operates a leading electronic trading platform that delivers greater trading efficiency, a diversified pool of liquidity and significant cost savings to institutional investors and broker-dealers across the global fixed-income markets. Over 2,000 firms leverage MarketAxess’ patented technology to efficiently trade fixed-income securities. MarketAxess’ award-winning Open Trading® marketplace is widely regarded as the preferred all-to-all trading solution in the global credit markets. Founded in 2000, MarketAxess connects a robust network of market participants through an advanced full trading lifecycle solution that includes automated trading solutions, intelligent data and index products and a range of post-trade services. Learn more at www.marketaxess.com and on Twitter @MarketAxess.
About City Harvest
City Harvest is New York’s first and largest food rescue organization, collecting perfectly good food that would otherwise go to waste to help feed the millions of New Yorkers who struggle to put meals on their tables. In over 40 years serving New Yorkers experiencing food insecurity, we have rescued more than one billion pounds of fresh, nutritious food and delivered it—free of charge—to hundreds of food pantries, soup kitchens, community partners, and our own Mobile Markets® across the five boroughs. This year, we will rescue and distribute more than 77 million pounds of nutritious food to our neighbors in need. By redirecting that food to families, we will also prevent the equivalent of more than 20 million kilograms of CO2 from entering the atmosphere. Named one of America's Top 100 Charities by Forbes, City Harvest also works alongside our community partners to build their capacity, expand nutrition education, and advocate for systems change through effective public policy. Since our founding in 1982, City Harvest has always been there to feed our city—one day, one meal, one New Yorker at a time. To learn more, please visit cityharvest.org.