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Marketaxess Holdings Inc   (MKTX)
Other Ticker:  
 
    Sector  Financial    Industry Investment Services
   Industry Investment Services
   Sector  Financial
 
Price: $200.4100 $-5.94 -2.879%
Day's High: $204.615 Week Perf: -8.66 %
Day's Low: $ 202.19 30 Day Perf: -1.81 %
Volume (M): 11 52 Wk High: $ 297.97
Volume (M$): $ 2,139 52 Wk Avg: $237.87
Open: $203.63 52 Wk Low: $198.01



 Market Capitalization (Millions $) 7,530
 Shares Outstanding (Millions) 38
 Employees 676
 Revenues (TTM) (Millions $) 733
 Net Income (TTM) (Millions $) 248
 Cash Flow (TTM) (Millions $) 16
 Capital Exp. (TTM) (Millions $) 39

Marketaxess Holdings Inc

MarketAxess Holdings Inc. 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 our patented trading technology. Our over 1,000 active participant firms include broker-dealer clients, investment advisers, mutual funds, insurance companies, public and private pension funds, bank portfolios and hedge funds. Our approximately 100 broker-dealer market-maker clients provide liquidity on the platform and include most of the leading broker-dealers in global fixed-income trading. Through our Open TradingTM initiative, we also execute certain bond transactions between and among institutional investor and broker-dealer clients on a matched principal basis by serving as counterparty to both the buyer and the seller in trades which then settle through a third-party clearing broker. We provide fixed-income market data, analytics and compliance tools that help our clients make trading decisions. We also provide trade matching and regulatory transaction reporting services to the securities markets. In addition, we provide technology solutions and professional consulting services to fixed-income industry participants.

Our multi-dealer trading platform allows our institutional investor clients to simultaneously request competing, executable bids or offers from our broker-dealer clients and execute trades with the broker-dealer of their choice from among those that choose to respond. We offer our broker-dealer clients a solution that enables them to efficiently reach our institutional investor clients for the distribution and trading of bonds. Our trading platform provides access to global liquidity in U.S. high-grade corporate bonds, emerging markets and high-yield bonds, European bonds, U.S. agency bonds, credit derivatives and other fixed-income securities.
Our Open TradingTM protocols allow our broker-dealer and institutional investor clients to interact in an all-to-all trading environment. These innovative technology solutions are designed to increase the number of potential trading counterparties on our electronic trading platform and create a menu of solutions to address different trade sizes and bond liquidity characteristics.


The majority of our revenues are derived from commissions for trades executed on our platform and distribution fees that are billed to our broker-dealer clients on a monthly basis. We also derive revenues from information and post-trade services, technology products and services, investment income and other income. Our expenses consist of employee compensation and benefits, depreciation and amortization, technology and communication expenses, professional and consulting fees, occupancy, marketing and advertising and other general and administrative expenses.


Traditionally, bond trading has been a manual process, with product and price discovery conducted over the telephone between two or more parties. This traditional process has a number of shortcomings resulting primarily from the lack of a central trading facility for these securities, which makes it difficult to match buyers and sellers for particular issues. Many corporate bond trading participants use e-mail and other electronic means of communication for trading corporate bonds. While this has addressed some of the shortcomings associated with traditional corporate bond trading, we believe that the process is still hindered by limited liquidity, limited price transparency, significant transaction costs, compliance and regulatory challenges, and difficulty in executing numerous trades at one time.


Through our disclosed multi-dealer Request For Quote (“RFQ”) trading functionality, our institutional investor clients can determine prices available for a security, a process called price discovery, and then trade those securities directly with our broker-dealer clients. The price discovery process includes the ability to view indicative prices from the broker-dealer clients’ inventory available on our platform, access to real-time pricing information and analytical tools (including spread-to-Treasury data, search capabilities and independent third-party credit research) available on our BondTickerTM service and the ability to request executable bids and offers simultaneously from all of our participating broker-dealer clients during the trade process. On average, institutional
3
investor clients receive several bids or offers from broker-dealer clients in response to trade inquiries. However, some trade inquiries may not receive any bids or offers.
Our services relating to trade execution include single and multiple-dealer inquiries; list trading, which is the ability to request bids and offers on multiple bonds at the same time; and swap trading, which is the ability to request an offer to purchase one bond and a bid to sell another bond, in a manner such that the two trades will be executed simultaneously, with payment based on the price differential of the bonds. Once a trade is completed on our platform, the broker-dealer client and institutional investor client may settle the trade with the assistance of our automated post-trade messaging, which facilitates the communication of trade acknowledgment and allocation information between our institutional investor and broker-dealer clients.


According to the Federal Reserve, outstanding U.S. high-grade corporate bond debt has increased approximately 52% from year-end 2008 to September 30, 2015, the most recent date available. During this same period, financial market regulators have increased capital requirements for bank-owned broker-dealers holding corporate bond inventory. As a result, corporate bond debt owned by institutional investors has increased, while the available base of capital for dealer market making has declined. Partly as a result of these trends, overall secondary turnover as a percentage of corporate debt outstanding has been falling, causing all market participants to look for new electronic trading solutions to improve liquidity and turnover. We have responded with a series of new Open TradingTM protocols designed to allow our broker-dealer and institutional investor clients to interact in an all-to-all trading environment. During 2015, we completed approximately 180,000 trades utilizing our Open Trading™ solutions, an increase of 134% compared to 2014.


Typically, we are not a party to the trades that occur on our platform between institutional investor clients and broker-dealer clients; rather, we serve as an intermediary between broker-dealers and institutional investors, enabling them to meet, agree on a price and then transact with each other. However, in connection with our Open Trading™ or other anonymous protocols, we execute bond transactions between and among institutional investor and broker-dealer clients on a matched principal basis by serving as counterparty to both the buyer and the seller in matching back-to-back trades which are then settled through a third-party clearing broker.


Our broker-dealer clients accounted for approximately 97% of the underwriting of newly-issued U.S. corporate bonds and approximately 79% of the underwriting of newly issued European corporate bonds in 2015. We believe these broker-dealers also represent the principal source of secondary market liquidity in the other markets in which we operate. Secondary market liquidity refers to the ability of market participants to buy or sell a security quickly and in large volume subsequent to the original issuance of the security, without substantially affecting the price of the security. In addition to trading fixed-income securities by traditional means, including the telephone and e-mail, our broker-dealer clients use proprietary single-dealer systems and other trading platforms, as well as our electronic trading platform. We believe that the traditional means of trading remain the manner in which the majority of bonds are traded between institutional investors and broker-dealers.



   Company Address: 55 Hudson Yards New York 10001 NY
   Company Phone Number: 813-6000   Stock Exchange / Ticker: NASDAQ MKTX
   


Customers Net Income grew by MKTX's Customers Net Profit Margin grew to

35.48 %

21.05 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
CBOE   -2.66%    
CME   -2.64%    
ICE   -3.61%    
MORN   -2.7%    
NDAQ   -4.16%    
VALU        12.25% 
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Business Update

Strong trading volumes drive growth for MarketAxess despite reduced revenues and investments.

Published Fri, May 3 2024 12:47 PM UTC

MarketAxess Holdings Inc., a top-tier electronic trading platform for fixed-income securities, has revealed its monthly trading volume along with preliminary variable transaction fees per million (FPM) for April 2024. The company, listed on NASDAQ under the symbol MKTX, has witnessed credit ADV growth of 11.9%, primarily driven by a substantial increase of 16.4% in U.S. high...

Marketaxess Holdings Inc

Breaking: Marketaxess Holdings Inc. Struggles with Lackluster Results, Investors Beware!

Financial Services Company Reports Disappointing Q3 2023 Results
Marketaxess Holdings Inc, the investment services company, recently announced its financial results for the July to September 30, 2023 time-frame, showing a decline in earnings per share (EPS) and revenue compared to the same period last year. The company's EPS deteriorated by -7.59%, falling to $1.46 from $1.58, while its revenue decreased by -0.655% to $172.41 million. This decline in business is in contrast to the average revenue growth seen in the investment services industry.
Compared to the previous reporting period, Marketaxess Holdings Inc recorded a decrease in EPS from $1.59 per share and a revenue decrease of -4.268% from $180.10 million. Additionally, the company's net income of $54.941 million for the July to September 30, 2023 time-frame fell by -7.36% from $59.307 million in the corresponding period a year before.

Marketaxess Holdings Inc

MarketAxess Holdings Inc. Records Diminished Earnings Amidst Underwhelming Fiscal Performance Spanning Up to June 30, 2023

Marketaxess Holdings Inc, a leading operator of electronic trading platforms for fixed-income securities, recently announced disappointing earnings for the second quarter of 2023. The company's earnings per share (EPS) deteriorated by 10.67% to $1.59, compared to $1.78 in the same quarter of the previous year. Additionally, its revenue decreased by 1.411% to $180.10 million year on year.
These figures mark a significant decline from the previous reporting season, where the company reported profits of $1.96 per share and a revenue deterioration of 11.445% to $203.37 million. Furthermore, the bottom-line for the second quarter of 2023 dropped by 10.55% to $59.859 million compared to $66.922 million in the corresponding period a year before.






 

Marketaxess Holdings Inc's Segments
 
 
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