Marketaxess Hldgs Inc Stock Price, News & Analysis

MarketAxess (MKTX) reported mixed Q1 2025 financial results with total revenues of $208.6 million, down 1% year-over-year. The company achieved record Average Daily Volume (ADV) across strategic protocols, including record Open Trading ADV of $4.8 billion (+8%) and Portfolio Trading ADV of $1.3 billion (+78%). However, diluted EPS fell to $0.40 ($1.87 excluding notable items) from $1.92 in Q1 2024, primarily due to a $54.9 million tax reserve. Total credit commission revenue decreased 3% to $169.1 million, while rates commission revenue increased 34% to $7.0 million. The company maintained strong liquidity with $642.1 million in cash and investments, repurchased shares worth $38.1 million in Q1, and declared a quarterly dividend of $0.76 per share.

MarketAxess (MKTX) reported exceptional trading volumes for April 2025, with record total credit Average Daily Volume (ADV) up 32% to $18.4 billion and record total rates ADV up 93% to $39.1 billion. The company achieved a record Open Trading ADV of $5.7 billion, representing 38% of total credit trading, up from 34% year-over-year. Notable highlights include record portfolio trading ADV up 99% to $1.8 billion, with 90% executed over X-Pro. The platform demonstrated strong performance during increased market volatility, with significant growth across U.S. high-yield, municipals, and U.S. government bonds. Emerging markets ADV reached a record $4.3 billion, while the rates business hit an all-time single-day record of $102.3 billion in U.S. government bonds traded on April 9.

MarketAxess Holdings (Nasdaq: MKTX) has appointed Spencer Lee as Head of Client Product, Americas, effective May 12, 2025. In this role, Lee will oversee business and product management across U.S. high-grade, high-yield, municipals, dealer and client solutions, including the MarketAxess X-Pro trading platform.

Lee joins from TS Imagine, where he served as Chief Markets Officer. With over 20 years of fixed-income trading experience, he previously co-founded Agilon Capital and led global credit electronic trading at BlackRock. CEO Chris Concannon highlighted Lee's extensive market structure expertise and buy-side perspective as valuable assets for advancing MarketAxess's innovation in fixed-income markets.

MarketAxess Holdings (Nasdaq: MKTX), a leading electronic trading platform operator for fixed-income securities, has scheduled its first quarter 2025 financial results announcement for Wednesday, May 7, 2025, before market opening.

The company will host a conference call at 10:00 a.m. ET featuring CEO Chris Concannon, Global Head of Trading Solutions Richard Schiffman, and CFO Ilene Fiszel Bieler. The call will include a strategic update, financial results discussion, and outlook presentation.

Participants can join via phone at 646-307-1963 using ID 1832176, or through a live audio webcast on the Investor Relations section of MarketAxess's website. The webcast recording will remain accessible for 90 days post-announcement.

MarketAxess Holdings (Nasdaq: MKTX) achieved a significant milestone with an all-time single-day record of $102.3 billion in U.S. Government Bonds notional traded on April 9. The record trading volume was attributed to increased market volatility, driving strong market volumes and notable uptake in client and algorithmic trading.

The company's Head of Rates, Chris Good, highlighted growing client adoption of firm liquidity sources like Live Markets® during volatile market conditions. MarketAxess is expanding its offerings with Pragma technology and plans to introduce enhanced Request for Quote (RFQ) capabilities for U.S. Government Bonds, which will enable dealers to expand their reach through the MarketAxess client network.

MarketAxess (MKTX) reported strong trading volumes for March and Q1 2025, with record total credit Average Daily Volume (ADV) of $17.8B in March, up 20% year-over-year. The company achieved record total ADV of $46.5B in March 2025, representing a 46% increase from the previous year.

Key highlights include record Q1 2025 performance with total ADV of $42.9B, up 31% year-over-year. The company saw significant growth in portfolio trading, with March 2025 ADV reaching $1.5B, up 134% from the prior year. U.S. high-grade estimated market share was 20.0% in March 2025, improving from 19.8% year-over-year and 17.8% in February 2025.

Notable achievements include record block trading volumes in emerging markets and eurobonds, with March 2025 emerging markets block trading ADV of $1.7B (+37% YoY) and eurobonds block trading ADV of $510M (+106% YoY). Open Trading ADV reached $5.5B in March 2025, representing 37% of total credit trading volume.

MarketAxess Holdings (Nasdaq: MKTX) reported its February 2025 trading statistics, showing mixed performance across different segments. Total average daily volume (ADV) reached $43.4 billion, up 27% year-over-year and 11% from January 2025.

Key metrics include:

• Total rates ADV: $27.9 billion (+46% YoY)
• Total credit ADV: $15.5 billion (+2% YoY)
• U.S. high-grade ADV: $7.1 billion (-8% YoY)
• Record emerging markets ADV: $4.1 billion (+13% YoY)

The company's market share in U.S. high-grade credit declined to 17.8% from 19.5% year-over-year. However, portfolio trading showed strong growth, with ADV of $1.5 billion (+131% YoY). The company's CEO acknowledged challenges in U.S. credit performance but highlighted upcoming launches of High Touch block trading solution and dealer Mid-X protocol in Q2 2025.

MarketAxess Holdings Inc. (Nasdaq: MKTX), a prominent operator of an electronic trading platform for fixed-income securities, announced that its CEO, Chris Concannon, will participate in the Raymond James 2025 Institutional Investors Conference on March 3, 2025. Mr. Concannon is scheduled for a fireside chat at 4:35 p.m. ET. The live webcast and replay of the session will be accessible via the events and presentations section on the MarketAxess Investor Relations homepage.

MarketAxess Holdings (MKTX) reported record full-year 2024 revenue of $817.1 million, up 9% from 2023. The company achieved record commission revenue across emerging markets, Eurobonds, and municipal bonds, with a combined 15% increase. Q4 2024 total revenues were $202.4 million, with diluted EPS of $1.73 on net income of $65.1 million.

Key highlights include 9% growth in U.S. high-grade commission revenue, though offset by a 17% decline in U.S. high-yield commission revenue. Record rates commission revenue increased 21%, while services revenue grew 18% to $105.4 million. Total expenses increased 9% to $476.2 million. Full-year EPS rose 6% to $7.28 on net income of $274.2 million.

For 2025, the company expects services revenue to grow in mid-single digits and expenses to range between $505-525 million. The company repurchased 341,477 shares for $75 million in 2024, with $220 million remaining under authorization.