Global markets have hit the brakes, with rising bond yields, war driven oil swings, and renewed concern over government debt forcing investors to rethink where risk really sits in portfolios. When money becomes more expensive, capital often starts hunting for different types of income and liquidity. This piece focuses on three stocks from the fixed income trading and bond ETF universe that appear closely tied to these cross currents and may influence how you think about your exposure to this theme.
The three stocks covered below are only a sample, since the full screen on this theme surfaced 30 more listed businesses with equally compelling fixed income stories that are not unpacked in this article.
SEI Investments plugs directly into this fixed income and bond ETF theme through its asset management and outsourcing platforms, giving you a way to play rising demand for bond strategies across private banks, advisors and institutions without owning a trading venue yourself.
SEI Investments runs fee based wealth, retirement and investment platforms, generating about US$876 million from investment managers, US$651 million from investment advisors and US$603 million from private banks, on a roughly US$12.3b market cap foundation.
“SEI Investments is seeing strong demand from large asset managers to outsource complex fund administration and back-office work, particularly in alternatives, with recent wins that shift historically internal operations onto SEI platforms, which can add fee-based revenue and support earnings as these mandates ramp.”
The real swing factor is how one quiet shift in product mix and pricing power ultimately feeds through to those fee margins investors watch so closely.
That margin question is exactly what the full narrative for SEI Investments unpacks, showing where outsourcing momentum could accelerate, stall, or quietly reshape the earnings mix at SEI Investments.
NasdaqGS:SEIC Revenue & Expenses Breakdown as at Oct 2026
Marex Group plugs directly into the fixed income trading theme by running a multi asset dealing and clearing platform where bond, rates and commodity flows meet, with Agency and Execution bringing in about US$1.2b of the US$2.6b top line and a market cap near US$5.4b.
Marex Group matters here because rising yields, heavier bond issuance and nervous credit markets tend to push more investors towards brokers that can handle complex rate, commodity and ETF flows under stress.
“While Marex Group now generates a large share of profit from higher margin Clearing and Prime activities, the sharp fall in net interest income from $53m in Q1 2025 to $30m in Q2 2026 suggests that the higher funding costs needed to support these balance sheet intensive franchises could cap future net margin expansion if client balances or pricing do not keep pace.”
The real question is what happens to those high margin franchises if one unseen funding pressure starts to squeeze pricing power and client demand at the same time.
When that funding squeeze matters most, the full narrative for Marex Group shows where Marex Group’s clearing engine could still accelerate, stall, or quietly mask a stronger earnings story.
NasdaqGS:MRX Revenue & Expenses Breakdown as at Oct 2026
Cboe Global Markets plugs directly into the fixed-income trading and bond ETF theme as a major exchange group. Most of its revenue comes from options at about US$2.7b, along with approximately US$1.7b from North American equities, and it has a market value near US$29.1b.
When bond yields move and volatility ripples through global markets, Cboe Global Markets can serve as a central venue for investors looking to hedge rate risk, trade bond-related ETFs, and express macro views through listed derivatives. This activity places its higher-margin data and index franchises in sharp focus.
“Cboe’s Data Vantage (market data, analytics, and index licensing) is demonstrating consistent double-digit revenue growth, supported by high-margin, recurring subscription sales, which enhances the predictability and profitability of earnings.”
The key question now is how that steady, recurring engine would hold up if one important assumption about future trading volumes or product demand were to change.
If that assumption breaks, the full narrative for Cboe Global Markets shows where Cboe Global Markets’ data engine could be masking accelerating earnings power or fresh rate risk.
BATS:CBOE Earnings & Revenue History as at Oct 2026
Curious About What You Might Be Missing?
Fresh ideas move first. By the time a theme hits headlines, early entry points can be gone. Scan these curated lists before momentum starts flying elsewhere and look for opportunities early.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
