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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.
Broadway has partnered with MarketAxess Holdings (NASDAQ: MKTX) to enhance their U.S. Treasury Request for Quote (RFQ) workflow feature within the MarketAxess treasuries marketplace. This integration, now live, allows dealers to respond to UST inquiries from MarketAxess clients, improving trading capabilities across fixed-income markets. Broadway aims to provide comprehensive solutions for its clients, connecting them to a broad liquidity network of over 1,900 firms globally.
MarketAxess Holdings announced record trading volume for August 2022, achieving $30.6 billion in average daily volume (ADV), a 44% year-over-year increase. Key highlights include a 55% rise in U.S. Treasury ADV to $20.2 billion and a 27% increase in total credit ADV to $10.2 billion. Transaction cost savings for clients reached $90 million in August, totaling $604 million year-to-date. The company noted strong market share gains and stable average fees. The favorable trading conditions are expected to boost growth prospects in the coming months.
MarketAxess Holdings reported strong July 2022 trading volume, achieving $31.1 billion in average daily volume (ADV), up 31% year-over-year. U.S. Treasury ADV rose by 49% to $20.3 billion, while total credit ADV increased by 8% to $10.6 billion. The company also noted record estimated market share in municipals at 5.5% and significant estimated transaction cost savings of $75 million for clients. Portfolio Trading volume hit a record $10 billion, reflecting robust growth across various product categories.
MarketAxess Holdings reported Q2 2022 financial results showing revenues of $182.2 million, up 3% from last year. The firm achieved record market share in various categories, including a 20.2% estimated share in composite corporate bonds. Total expenses rose 9% to $97.4 million, driven by increased investments. The EBITDA was $105.2 million with a margin of 57.7%. Diluted EPS was $1.78, reflecting a $0.11 gain from foreign currency transactions. The company declared a $0.70 dividend per share and repurchased shares valued at $48.7 million.
MarketAxess Holdings Inc. (Nasdaq: MKTX) will announce its Q2 2022 financial results on July 20, 2022, before market opening. The announcement will be followed by a conference call at 10:00 a.m. EDT, featuring CEO Rick McVey and other executives. Investors can dial in or access the live audio webcast via the investor relations section of the company’s website. MarketAxess operates an electronic trading platform for fixed-income securities, offering significant trading efficiencies and liquidity to over 1,900 firms globally.
MarketAxess Holdings (MKTX) announced strong trading results for June 2022, showcasing significant growth across fixed-income securities. U.S. high-grade average daily volume (ADV) rose 9% to $5.8 billion, with market share increasing to 22.7%. U.S. high-yield ADV surged 44% to a record $2.0 billion, reaching a market share of 19.0%. Total credit ADV for June climbed 16% to $12.7 billion. The estimated cost savings from Open Trading reached approximately $94 million. This strong performance sets the stage for robust future growth, bolstered by market share gains and new product developments.
MarketAxess Holdings (Nasdaq: MKTX) announced that President Chris Concannon and CFO Chris Gerosa will participate in the Morgan Stanley U.S. Financials, Payments and CRE Conference on June 14, 2022, at 1:45 p.m. ET. Investors can access the live webcast and replay through the MarketAxess Investor Relations homepage. MarketAxess operates a leading electronic trading platform for fixed-income securities, connecting over 1,900 firms globally through its patented technology and award-winning Open Trading® marketplace.
MarketAxess Holdings reported a significant increase in trading volume for May 2022, achieving a total average daily volume (ADV) of $34.8 billion, a rise of 45% year-over-year. Key segments showed strong performance: credit ADV increased by 16% to $12.0 billion, while rates ADV surged 66% to $22.8 billion. Notably, U.S. Treasury ADV rose 65% to $22.3 billion, and the company recorded record municipal bond ADV of $390 million. Operational efficiencies led to estimated cost savings of $75.4 million for May, totaling over $345 million year-to-date.
MarketAxess Holdings Inc. (Nasdaq: MKTX) announced that Rick McVey, CEO, and Chris Concannon, COO, will participate in the Piper Sandler Global Exchange and Fintech Conference on June 8, 2022. McVey will engage in a fireside chat at 11:00 a.m. ET, while Concannon will be part of a panel discussing the changing landscape of fixed income electronic trading at 11:30 a.m. ET. Webcasts and replays of both discussions will be accessible via the MarketAxess Investor Relations homepage.
MarketAxess Holdings Inc. (Nasdaq: MKTX) announced that Chris Concannon, President and COO, and Chris Gerosa, CFO, will speak at the Deutsche Bank 12th Annual Global Financial Services Conference on May 31, 2022, at 4:15 p.m. ET. Investors can access the live webcast and replay on the MarketAxess Investor Relations homepage.
MarketAxess operates an electronic trading platform that enhances trading efficiency and provides liquidity for institutional investors and broker-dealers in the global fixed-income markets.
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