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MarketAxess Holdings Inc. (MKTX) operates a leading electronic trading platform that enables fixed-income market participants to efficiently trade corporate bonds and other types of fixed-income instruments using MarketAxess' patented trading technology. Founded in 2000, MarketAxess connects over 1,300 institutional investor and broker-dealer firms worldwide, providing access to global liquidity in U.S. high-grade corporate bonds, emerging markets, high-yield bonds, leveraged loans, European bonds, U.S. agency bonds, municipal bonds, credit default swaps, and other fixed-income securities.
The company's 'all-to-all' market for corporate bonds, known as Open Trading™, allows investment managers, broker-dealers at investment banks, and other market participants to trade directly with one another electronically on an anonymous basis. This innovation promotes greater transparency and efficiency in the bond trading process.
In addition to its core trading platform, MarketAxess offers a range of trading-related products and services. These include market data to assist clients with trading decisions and connectivity solutions that facilitate straight-through processing (STP). The company's strategic acquisitions have further expanded its capabilities. For example, the acquisition of LiquidityEdge in 2019 and MuniBrokers in 2021 have allowed MarketAxess to aggressively expand into Treasury and municipal bond markets.
Furthermore, MarketAxess has strengthened its pre- and post-trade services through the acquisition of Regulatory Reporting Hub from Deutsche Börse Group in 2020. This expansion enhances their product offerings and positions the company as a comprehensive service provider in the fixed-income trading space.
MarketAxess continues to innovate and grow, solidifying its position as a key player in the electronic fixed-income trading market. As the company evolves, it remains committed to providing efficient, transparent, and reliable trading solutions to its global client base.
MarketAxess Holdings, Inc. (Nasdaq: MKTX) announced its agreement to acquire Deutsche Börse Group's Regulatory Reporting Hub through its subsidiary Trax NL B.V. This acquisition, anticipated to close in Q4 2020, enhances MarketAxess' capabilities in regulatory reporting and compliance services across Europe, especially in Germany, France, and the Nordics. The Regulatory Reporting Hub offers essential services such as transaction and trade reporting, helping clients meet regulatory obligations under MiFID II and EMIR. The strategic move aims to strengthen MarketAxess’ European client base and innovate its post-trade services.
MarketAxess Holdings (Nasdaq: MKTX) has appointed Riad Chowdhury as Head of Asia Pacific, effective September 23, 2020. Based in Singapore, Chowdhury will lead the Asia Pacific growth strategy and oversee all business operations in the region. He previously worked at Standard Chartered Bank and has extensive experience in electronic trading technologies. Christophe Roupie, Head of EMEA and APAC, emphasized that Chowdhury's expertise aligns with the increasing demand for electronic trading in Asia, promising enhanced liquidity and cost-efficiency for investors and dealers.
MarketAxess Holdings Inc. (Nasdaq: MKTX) announced the acquisition of MuniBrokers, enhancing its electronic trading platform for fixed-income securities. MuniBrokers connects 14 leading Municipal Securities Broker's Brokers and facilitates over $400 million in municipal bond trading daily. The acquisition aims to expand MarketAxess' municipal bond trading solutions globally, with the transaction expected to close in Q4 2020. Industry leaders expect this acquisition to improve liquidity and execution experiences for institutional investors.
MarketAxess (Nasdaq: MKTX) has been designated an Eligible Seller by the Federal Reserve Bank of New York for the Secondary Market Corporate Credit Facility (SMCCF). This program aims to enhance liquidity in the corporate debt market by enabling the purchase of corporate bonds and ETFs. Chairman and CEO Rick McVey expressed the company's commitment to supporting economic recovery and maintaining the secondary market's strength. The designation positions MarketAxess to effectively respond to the Fed’s bond purchasing requests, leveraging its growing Open Trading platform.
MarketAxess Holdings Inc. (Nasdaq: MKTX) announced that Chris Concannon, President and COO, and Tony DeLise, CFO, will speak at the Barclays Global Financial Services Conference on September 15, 2020, at 3:30 p.m. EST. The presentation will be accessible via live internet broadcast at https://kvgo.com/barclays/marketaxess-september-2020.
MarketAxess is a leader in electronic trading for fixed-income securities, offering enhanced liquidity and cost savings to over 1,700 firms globally. Its patented technology and Open Trading™ marketplace facilitate efficient bond trading.
MarketAxess Holdings Inc. (MKTX) announced that CFO Tony DeLise will speak at the Deutsche Bank Virtual Technology Conference on September 14, 2020, at 4:00 p.m. EST. The presentation will be accessible live online through a provided link. MarketAxess operates an institutional electronic trading platform specializing in fixed-income securities, offering enhanced liquidity and cost efficiency. The firm supports over 1,700 clients, including top asset managers and broker-dealers, utilizing its proprietary trading technology and comprehensive market data services for improved bond trading.
MarketAxess Holdings reported a strong trading volume for August 2020, reaching $450.0 billion. This volume is composed of $178.6 billion in credit trading and $271.3 billion in rates trading. The figures represent fully electronic trading volume across all product categories. MarketAxess continues to serve as a key player in the fixed-income market, providing comprehensive market data and post-trade services.
MarketAxess Holdings Inc. (MKTX) reported a robust trading volume of $438.9 billion for July 2020, comprised of $204.3 billion in credit trading and $234.5 billion in rates trading. This figure highlights the company's strong position in the electronic trading of fixed-income securities.
All reported volumes reflect fully electronic trading activities, reinforcing MarketAxess' role in providing essential market data and post-trade services.
MarketAxess Holdings reported record revenues of $184.8 million for Q2 2020, a 47% increase from the previous year. Operating income rose 71% to $104.1 million, with an operating margin of 56.4%. Diluted EPS surged 73% to $2.20. The company achieved an estimated 21.5% market share in high-grade and 14.0% in high-yield bonds. Total credit trading volume reached $741.8 billion, up 44%. Despite a 25% rise in total expenses to $80.7 million, MarketAxess announced a cash dividend of $0.60 per share.
MarketAxess Holdings Inc. (MKTX) announced the election of Kourtney Gibson to its Board of Directors, effective July 16, 2020. Gibson, President of Loop Capital Markets, brings extensive experience in capital markets and operational improvement. She aims to enhance MarketAxess' growth strategy, leveraging her industry knowledge and client relationships. CEO Rick McVey highlighted Gibson's dynamic background as a significant asset for the company's future. Following her election, the board size increased to 13, adding to the expertise from recent board additions in 2019.
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