MarketAxess Holdings Inc. - MKTX STOCK NEWS

MarketAxess Holdings reported a record revenue of $203.2 million for Q1 2023, marking a 9% increase year-over-year. The company achieved a total credit average daily volume (ADV) of $13.7 billion, up 14%, and a record Open Trading ADV of $4.5 billion, an increase of 21%. Despite a 10% rise in total expenses primarily due to increased headcount and technology costs, operating income rose 8% to $95.4 million, with an operating margin of 46.9%. Earnings per share (EPS) increased 15% to $1.96. The macro environment remains favorable, with significant market share gains across various products, including U.S. high-yield and Eurobonds. Estimated price improvement for clients reached approximately $252 million. The results reflect strong momentum in MarketAxess’s growth strategy, with expectations for continued expansion in trading volume and market share.

MarketAxess Holdings (Nasdaq: MKTX) has appointed Nancy Altobello as the new Lead Independent Director of its Board, effective April 13, 2023. She succeeds Stephen P. Casper, who will remain a director after serving in the role since 2012. Rick McVey, Founder and Executive Chairman, acknowledged Casper's contributions during a period of significant growth, including the company’s addition to the S&P 500 index.

Altobello, who served as Ernst & Young's Global Vice Chair of Talent, brings extensive audit and global talent management experience. She expressed her commitment to the company's strong governance and future growth opportunities. Additionally, MarketAxess released its 2022 ESG Report, highlighting its commitment to sustainability and corporate governance excellence.

MarketAxess Holdings Inc. (NASDAQ: MKTX) is set to announce its first quarter 2023 financial results on April 26, 2023, before market opening. The announcement will be followed by a conference call at 10:00 a.m. ET featuring key executives including CEO Chris Concannon and CFO Christopher Gerosa. Investors can access the conference via phone or through a live webcast on the company’s website, which will also archive the session for 90 days. MarketAxess operates an electronic trading platform specializing in fixed-income securities, serving over 2,000 firms with advanced trading solutions and a diverse liquidity pool. Their acclaimed Open Trading® marketplace establishes them as leaders in the global credit markets, enhancing trading efficiency and cost savings.

MarketAxess Holdings reported record trading metrics for March 2023, achieving a total credit trading volume of $296.3 billion with an average daily volume (ADV) of $12.9 billion. Notable increases included U.S. high-grade ADV rising to $6.1 billion, contributing to an estimated 19.9% market share. Open Trading penetration reached a record 39%. Despite overall growth, emerging markets ADV fell 16% to $2.7 billion. The first quarter also performed strongly with a 14% increase in total credit ADV to $13.7 billion, driven by robust gains in high-yield and Eurobonds.

MarketAxess Holdings Inc. (Nasdaq: MKTX) announced that CFO Chris Gerosa will speak at the 44th Annual Raymond James Institutional Investors Conference on March 6, 2023, at 4:35 p.m. ET. This participation highlights MarketAxess' position in the fixed-income trading space. The conference will feature a live webcast available on the MarketAxess Investor Relations website. MarketAxess operates an advanced electronic trading platform for fixed-income securities, serving over 2,000 firms and providing significant trading efficiency and cost savings. The company is recognized for its Open Trading® marketplace, a preferred solution in global credit markets.

MarketAxess Holdings Inc. (Nasdaq: MKTX) reported significant growth in its trading volumes for February 2023. Total credit average daily volume surged by 25% year-over-year, reaching a record $14.4 billion. Key highlights include a 30% increase in high-grade trading volume to $6.7 billion and a 43% rise in high-yield volume to $2.3 billion. The company also noted strong market share gains across various sectors, with price improvements via Open Trading estimated at $81 million. The preliminary variable transaction fees for total credit increased to $167 per million, up from $160 in January.

MarketAxess Holdings, Inc. (Nasdaq: MKTX) announced that its management team will participate in key investor conferences this February. CFO Chris Gerosa will engage in a fireside chat at the Credit Suisse 24th Annual Financial Services Forum on February 14, 2023, at 4:05 p.m. ET. President Chris Concannon will speak at the Bank of America Financial Services Conference on February 15, 2023, at 9:40 a.m. ET. Webcasts of these discussions will be available live and on-demand on the MarketAxess Investor Relations website.

MarketAxess, a leader in electronic trading for fixed-income securities, connects over 1,900 firms, providing innovative trading solutions and market data services.

MarketAxess Holdings Inc. (Nasdaq: MKTX) reported a record average daily trading volume (ADV) of $14 billion in January 2023, marking a 17% increase from the previous year, driven by strong growth across all credit products. Key highlights include a 14% rise in U.S. high-grade ADV and a record of $3.4 billion in emerging markets ADV. The company's estimated market share in municipal bonds reached 6.6%, up 150 basis points. Despite a decrease in preliminary variable transaction fees per million to $160, MarketAxess sees a favorable macro environment for growth, aided by increasing asset inflows and high industry volumes.

MarketAxess Holdings Inc. (Nasdaq: MKTX) reported strong financial results for Q4 and FY 2022, achieving record revenues of $718.3 million, up 3% year-over-year. Q4 revenues increased 8% to $177.9 million, with a 24% rise in average daily trading volume to $12 billion. The company highlighted a record 36% of credit trading executed via its Open Trading platform, resulting in an estimated price improvement of approximately $945 million for clients. Despite a 10% decline in total credit average transaction fees, MarketAxess expects continued growth in 2023, driven by strong market share and trading volumes. Leadership transition to Chris Concannon as CEO will occur in April 2023.