MarketAxess Holdings Inc. - MKTX STOCK NEWS

MarketAxess Holdings (Nasdaq: MKTX), a leading electronic trading platform for fixed-income securities, has announced its participation in the Barclays Global Financial Services Conference on September 10, 2024. CEO Chris Concannon and CFO Ilene Fiszel Bieler will engage in a fireside chat at 2:45 p.m. ET.

Investors and interested parties can access the live webcast and replay of the fireside chat through the events and presentations section of the MarketAxess Investor Relations website at https://investor.marketaxess.com/events-and-presentations. This participation highlights MarketAxess's commitment to engaging with the financial services community and providing insights into its operations and strategies.

MarketAxess Holdings (Nasdaq: MKTX) reported its second-quarter 2024 financial results, showcasing a 10% revenue growth to $197.7 million, driven by a 12% increase in credit ADV and a 22% rise in services revenue. Notable achievements include a record $55 billion in portfolio trading volume and a significant 34% growth in municipal bond ADV.

Total expenses rose by 12% to $116.3 million, and the company achieved a diluted EPS of $1.72, up from $1.59 last year. The board approved a new share repurchase authorization of $200 million, adding to the existing $50 million, for a total of $250 million. Additionally, MarketAxess declared a quarterly cash dividend of $0.74 per share, payable on September 4, 2024.

The company saw growth across various markets, including a 23% increase in emerging markets ADV and an 8% rise in Eurobond ADV. Despite a decrease in U.S. high-yield trading activity, MarketAxess remains focused on its strategic priorities, leveraging connectivity and AI functionalities to drive future growth.

ICE Bonds, part of Intercontinental Exchange (NYSE: ICE), and MarketAxess Holdings Inc. (Nasdaq: MKTX) have announced plans to connect their liquidity networks to enhance efficiency and access to deeper liquidity in fixed income markets. This collaboration will establish connectivity between ICE Bonds' automated trading system, ICE TMC, and MarketAxess' Open Trading network, enabling communication between their respective protocols and liquidity pools.

The partnership aims to expand opportunities for accessing liquidity in corporate and municipal bonds, benefiting both institutional and wealth management clients. By combining ICE Bonds' retail brokerage and wealth management presence with MarketAxess' institutional trading leadership, the initiative seeks to enhance price transparency, best execution, and overall market liquidity for all participants across both platforms.

MarketAxess Holdings Inc. (Nasdaq: MKTX) announced its July 2024 trading volume statistics. Total average daily volume (ADV) increased 24.1% to $35.1 billion, driven by strong growth in total credit ADV (up 12.3% to $12.8 billion) and a 32.0% increase in total rates ADV. Highlights include:

- U.S. high-grade ADV up 17.9% to $6.1 billion
- Emerging markets ADV up 7.1% to $3.2 billion
- Eurobonds ADV up 17.8% to $1.8 billion
- Municipal bond ADV up 65.2% to $575 million
- Record portfolio trading ADV of $972 million, up 178.5%

However, U.S. high-yield ADV decreased 17.7% to $1.1 billion. The company's CEO expressed concern over U.S. credit market share progression in July but remains optimistic about future market share expansion through portfolio trading and dealer solutions initiatives.

MarketAxess Holdings Inc. (Nasdaq: MKTX), a leading electronic trading platform for fixed-income securities, has announced it will release its second quarter 2024 financial results on Tuesday, August 6, 2024, before market open. The company will host a conference call at 10:00 a.m. ET on the same day, featuring CEO Chris Concannon, Global Head of Trading Solutions Richard Schiffman, and CFO Ilene Fiszel Bieler. They will provide a strategic update and discuss the company's financial results and outlook.

Investors can access the conference call by dialing 646-307-1963 (U.S./International) with ID 1832176. Additionally, a live audio webcast will be available on the Investor Relations section of the MarketAxess website, which will be archived for 90 days following the announcement.

MarketAxess Holdings announced its trading volume and preliminary variable transaction fees for June and Q2 2024. Total average daily volume (ADV) rose 22.8% year-over-year to $34.2 billion in Q2, driven by a 12.4% increase in total credit ADV to $13.7 billion and a 30.9% rise in total rates ADV. U.S. high-grade ADV climbed 13.0% to $6.4 billion, though market share dipped to 18.7% from 20.7% a year ago. U.S. high-yield ADV fell 9.3% to $1.3 billion, with market share declining to 13.5% from 16.5%. Emerging markets ADV surged 23.0% to $3.3 billion, driven by a 25.6% rise in hard currency ADV. Municipal bond ADV jumped 34.2% to $522 million. The preliminary FPM for total credit dropped to $148 from $157 a year ago. Rates ADV increased 30.9% to $20.4 billion, with the preliminary FPM for total rates at $4.50, down from $4.70.

MarketAxess (Nasdaq: MKTX), a premier electronic trading platform for fixed-income securities, has introduced its first portfolio trade tool for tax-exempt municipal bonds. This tool enables clients to bundle and trade up to 1,500 CUSIPs efficiently and discreetly. The tool allows for price negotiation and quick adjustments in portfolio metrics, providing better execution certainty. The tool addresses a major demand among municipal bond traders, aligning their trading capabilities with those in the corporate bond market. MarketAxess has seen considerable growth, capturing an 8.1% market share in municipal bonds, up from 5.6% the previous year, with $577 million in average daily volumes.

MarketAxess Holdings announced notable trading volume stats for May 2024. CEO Chris Concannon highlighted an 11.1% growth in total credit average daily volume (ADV), with significant increases in emerging markets (21.8%), Eurobonds (24.8%), and municipal bonds (43.2%). U.S. high-grade portfolio trading market share rose to 21.8%, a significant jump from 12.8% the previous year. Total ADV was up 13.5% to $32.2 billion, driven by a 15.2% increase in total rates trading ADV. However, U.S. high-yield ADV fell by 13.1%, with market share declining to 12.8%.

Notably, total portfolio trading volume surged 136.2%, with 55% executed on X-Pro. The preliminary variable transaction fees per million (FPM) for total credit decreased to $149, down from $164 the previous year, while total rates FPM dropped to $4.40.

MarketAxess Holdings (Nasdaq: MKTX), a major electronic trading platform for fixed-income securities, will participate in upcoming investor conferences. Richard Schiffman, the Global Head of Trading Solutions, will join a fireside chat at the Piper Sandler Global Exchange & Trading Conference on June 5, 2024, at 10:00 a.m. ET. CEO Chris Concannon will speak at the Morgan Stanley U.S. Financials, Payments & CRE Conference on June 11, 2024, at 4:00 p.m. ET. Live webcasts and replays for both events will be available on the MarketAxess Investor Relations homepage.