MarketAxess Completes Acquisition of MuniBrokers

Rhea-AI Summary

MarketAxess Holdings Inc. (Nasdaq: MKTX) completed its acquisition of MuniBrokers on April 9, 2021. This acquisition allows MarketAxess to enhance its electronic trading platform for municipal bonds, aiming to improve liquidity for the broker-dealer community. President Chris Concannon stated that the integration of MuniBrokers aligns with their vision to use technology for broader trading connections. MarketAxess continues to focus on delivering cost-effective trading solutions and market data services, leveraging its extensive network of over 1,800 firms to strengthen its position in the global fixed-income market.

Positive

• Acquisition of MuniBrokers strengthens MarketAxess' municipal bond trading marketplace.
• Expected improvement in liquidity for the broker and dealer community.
• Expansion of MarketAxess' electronic trading platform enhances overall market offerings.

Negative

• None.

NEW YORK, April 12, 2021 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, completed its previously announced acquisition of MuniBrokers, a central electronic venue serving municipal bond inter-dealer brokers and dealers, on April 9, 2021.

Chris Concannon, President and Chief Operating Officer of MarketAxess, commented, “We’re excited to add the MuniBrokers community to our growing municipal bond trading marketplace. Our vision is to use innovative technology to create broader trading connections and therefore add more liquidity to the market, which MuniBrokers helps deliver for the broker and dealer community.”

About MarketAxess
MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets. A global network of over 1,800 firms, including the world’s leading asset managers and institutional broker-dealers, leverages MarketAxess’ patented trading technology to efficiently trade bonds. MarketAxess’ award-winning Open Trading™ marketplace is regarded as the preferred all-to-all trading solution in the global credit markets, creating a unique liquidity pool for a broad range of credit market participants. Drawing on its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services.

MarketAxess is headquartered in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.

Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including statements about the outlook and prospects for Company and industry growth, as well as statements about the Company’s future financial and operating performance. These and other statements that relate to future results and events are based on MarketAxess’ current expectations. The Company’s actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including: risks relating to the COVID-19 pandemic, including the possible effects of the economic conditions worldwide resulting from the COVID-19 pandemic; global economic, political and market factors; the volatility of financial services markets generally; the level of trading volume transacted on the MarketAxess platform; the absolute level and direction of interest rates and the corresponding volatility in the corporate fixed-income market; the level and intensity of competition in the fixed-income electronic trading industry and the pricing pressures that may result; the variability of our growth rate; the rapidly evolving nature of the electronic financial services industry; our ability to introduce new fee plans and our clients’ response; our exposure to risks resulting from non-performance by counterparties to transactions executed between our clients in which we act as an intermediary in matched principal trades; risks related to self-clearing; our dependence on our broker-dealer clients; the loss of any of our significant institutional investor clients; our ability to develop new products and offerings and the market’s acceptance of those products; the effect of rapid market or technological changes on us and the users of our technology; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business interruptions; our vulnerability to cyber security risks; our ability to protect our intellectual property rights or technology and defend against intellectual property infringement or other claims; our ability to enter into strategic alliances and to acquire other businesses and successfully integrate them with our business; our ability to comply with new and existing laws, rules and regulations both domestically and internationally; our ability to maintain effective compliance and risk management methods; the strain of growth initiatives on management and other resources; our future capital needs and our ability to obtain capital when needed; limitations on our operating flexibility contained in our credit agreement; and other factors. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. More information about these and other factors affecting MarketAxess’ business and prospects is contained in MarketAxess’ periodic filings with the Securities and Exchange Commission and can be accessed at www.marketaxess.com.

MarketAxess Media Relations Contacts:
Kyle White
MarketAxess Holdings Inc.
+1 212 813 6355
kwhite@marketaxess.com

Davis Macmillan
RF | Binder
+1 908 868 8064
MarketAxessPR@rfbinder.com

Investor Relations Contact:
David Cresci
MarketAxess Holdings Inc.
+1 212 813 6027
dcresci@marketaxess.com

FAQ

What is the significance of MarketAxess' acquisition of MuniBrokers?

The acquisition enhances MarketAxess' municipal bond trading capabilities and aims to improve market liquidity.

When was the acquisition of MuniBrokers completed?

The acquisition was completed on April 9, 2021.

How does the acquisition impact MarketAxess' services?

It is expected to broaden trading connections and improve execution quality in the municipal bond market.

What is the stock symbol for MarketAxess?

The stock symbol for MarketAxess is MKTX.