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MarketAxess Holdings Inc. - MKTX STOCK NEWS

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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.

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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.

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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.

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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.

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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.

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MarketAxess (Nasdaq: MKTX) has appointed John Maggiacomo as Head of North America Client Sales. In this new role, Maggiacomo will lead sales efforts to expand MarketAxess's institutional client base across all product areas. Kevin McPherson, Chief Revenue Officer, emphasized Maggiacomo's extensive fixed income sales experience and strong industry relationships. Previously, Maggiacomo was Head of US Credit Sales at Royal Bank of Canada, focusing on leveraged finance. He has also held senior roles at Bank of America Merrill Lynch. His appointment aims to enhance trading efficiency and offer innovative solutions in a rapidly changing market.

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MarketAxess Holdings Inc. (Nasdaq: MKTX) reported its first-quarter 2024 financial results with total revenues of $210.3 million, a 3.5% increase. The company saw strong growth in U.S. high-grade commission revenue and record commission revenue from emerging markets, Eurobonds, and municipal bonds. Diluted EPS was $1.92 on net income of $72.6 million, compared to $1.96 on net income of $73.6 million in the prior year. The company highlighted the expansion of its client franchise, strong international product growth, and record automation and algorithmic trading metrics.

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MarketAxess Holdings Inc. announced trading volume and transaction fees for April 2024. CEO Chris Concannon highlighted strong growth in credit ADV, driven by increases in U.S. high-grade, emerging markets, and municipal bonds. Total ADV was $34.1 billion, up 22.6%, with notable increases in rates trading ADV and total credit ADV. MarketAxess saw a decrease in U.S. high-yield ADV but an increase in new issuance. The company also reported growth in emerging markets ADV, municipal bond ADV, and portfolio trading volume. Open Trading share of total credit trading volume decreased slightly. Preliminary fees for total credit and rates were lower than the prior year. MarketAxess continues to exclude single-dealer portfolio trading activity from reported figures.

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MarketAxess Holdings Inc. (Nasdaq: MKTX) announced the appointment of Dan Burke as Global Head of Emerging Markets, responsible for developing and executing business strategy for EM trading. Burke, with extensive experience in Emerging Markets, joins from Standard Chartered where he played a key role in automating credit offerings. MarketAxess aims to enhance liquidity and efficiency internationally under Burke's leadership. Recent investments in EM trading solutions led to a record average daily volume of $3.6 billion in Q1 2024, with Latin America and Asia-Pacific clients contributing significantly to the growth.

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MarketAxess Holdings Inc. (MKTX) will announce its first quarter 2024 financial results on May 7, 2024. The CEO and Global Head of Trading Solutions will host a conference call to discuss the results and outlook.
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MarketAxess Holdings Inc. (MKTX) achieves record quarterly total credit trading ADV of $15.0 billion in Q1 2024. The company reports significant increases in U.S. high-grade, emerging markets, and Eurobonds ADV. However, U.S. high-yield trading activity declines due to low credit spread volatility. MarketAxess X-Pro adoption grows, with 12.5% of U.S. credit trading volume executed on the platform. The company also highlights achievements in various product areas and client segments.
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FAQ

What does MarketAxess Holdings Inc. do?

MarketAxess operates a leading electronic trading platform for trading corporate bonds and other fixed-income instruments.

When was MarketAxess founded?

MarketAxess was founded in the year 2000.

What is Open Trading™?

Open Trading™ is MarketAxess' 'all-to-all' market for corporate bonds, allowing anonymous electronic trades between market participants.

What types of securities can be traded on MarketAxess?

Users can trade U.S. high-grade corporate bonds, emerging markets, high-yield bonds, leveraged loans, European bonds, U.S. agency bonds, municipal bonds, and more.

How does MarketAxess provide market data?

MarketAxess offers market data services to assist clients with informed trading decisions.

What recent acquisitions has MarketAxess made?

Recent acquisitions include LiquidityEdge in 2019, MuniBrokers in 2021, and the Regulatory Reporting Hub from Deutsche Börse Group in 2020.

Who are the primary users of the MarketAxess platform?

The platform is used by over 1,300 institutional investors and broker-dealer firms globally.

How does MarketAxess ensure efficient trading?

MarketAxess uses patented trading technology and offers connectivity solutions to facilitate straight-through processing (STP).

In which markets has MarketAxess expanded recently?

MarketAxess has expanded into the Treasury and municipal bond markets through recent acquisitions.

What additional services does MarketAxess provide?

MarketAxess offers pre- and post-trade services, including regulatory reporting, to enhance their comprehensive trading solutions.

MarketAxess Holdings Inc.

Nasdaq:MKTX

MKTX Rankings

MKTX Stock Data

8.07B
37.90M
2.31%
101.58%
2.7%
Securities Brokerage
Finance and Insurance
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United States of America
NEW YORK