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MarketAxess Holdings Inc. reports on its electronic trading platform for fixed-income securities, where institutional investors and broker-dealers trade across credit and rates products. Company updates commonly cover commission revenue, trading volume, average daily volume, variable transaction fees per million, and market-share data across U.S. high-grade, U.S. high-yield, emerging markets, eurobonds and portfolio trading activity.
MarketAxess news also includes developments in its Open Trading marketplace, automated and algorithmic trading tools, data and index products, post-trade services and technology integrations. Recurring announcements address partnerships that expand fixed-income workflow connectivity, access to institutional liquidity, primary issuance data, management changes, dividends, share repurchases and broader capital-allocation actions.
MarketAxess Holdings (Nasdaq: MKTX) announced that Chairman and CEO Rick McVey will present at the Goldman Sachs U.S. Financial Services Conference at 1:40 p.m. EST on December 7, 2021. The presentation will be available for live streaming online. MarketAxess operates a premier electronic trading platform for fixed-income securities, providing liquidity, improved execution quality, and cost savings across global markets. The firm serves over 1,800 institutions, leveraging patented technology and comprehensive market data.
MarketAxess Holdings (MKTX) announced the expansion of its trading platform to include local currency debt trading for Egypt, Hong Kong, and Serbia. This initiative comes as EM trading volumes soar to over $488 billion in the first three quarters of 2021, with onshore Chinese debt trading growing by 20% year-on-year. The platform now supports local debt trading in various Latin American countries, with Mexico being the largest market. MarketAxess emphasizes improved execution efficiency and cost-saving opportunities for clients, while continuing its commitment to emerging market communities.
MarketAxess Holdings reported a record monthly trading volume of $619.0 billion for October 2021, comprising $208.3 billion in credit and $410.7 billion in rates. Noteworthy highlights include a 57% increase in U.S. Treasury bond average daily volume to $20 billion and a record municipal bond trading volume of $2.6 billion with an average daily volume of $128 million. This success reflects strong growth in market activity despite ongoing economic uncertainties related to the COVID-19 pandemic and other market pressures.
MarketAxess Holdings reported its Q3 2021 results with revenues of $162.1 million, a decrease of 1% year-over-year. Operating income fell 16% to $74.0 million, resulting in an operating margin of 45.7%. Diluted EPS decreased 15% to $1.52. Despite these declines, the company achieved a record client base of 1,848 and a U.S. high-grade market share of 21.4%. Total expenses rose 15.6% to $88.1 million, influenced by various operational costs. The board declared a cash dividend of $0.66 per share, payable on November 17, 2021.
MarketAxess Holdings (Nasdaq: MKTX) has appointed Kathryn Sweeney as the Head of Index and ETF Solutions as of October 18, 2021. Sweeney will focus on developing and executing the firm's index and ETF business strategy, leveraging MarketAxess’ proprietary market data to create indices and portfolio solutions. Chris Concannon, President and COO, highlighted her extensive experience in trade execution and product development as critical for advancing the company's strategic vision in the evolving fixed-income index market. Sweeney previously held a senior role at State Street Global Advisors.
MarketAxess Holdings reported a monthly trading volume of $559.5 billion for September 2021, with $215.0 billion in credit and $344.5 billion in rates. Preliminary variable transaction fees per million for Q3 2021 were $165 for U.S. high-grade credit and $3.90 for rates. The fee data may be revised in future updates. Recent changes by FINRA regarding fixed-income trade reporting may affect market volume estimates. Detailed volume reports are accessible on the Company's investor website.
MarketAxess Holdings Inc. (Nasdaq: MKTX) will announce its 2021 third quarter results on October 20, 2021, before the market opens. Key executives, including Richard M. McVey, will hold a conference call at 10:00 a.m. ET to discuss the financial outcomes and future outlook. Interested parties can join via phone or access a live Webcast on the company’s Investor Relations website. A replay will be available post-call using the specified numbers for one week. MarketAxess provides a leading electronic trading platform for fixed-income securities, enhancing liquidity and execution quality.
MarketAxess Holdings (Nasdaq: MKTX) has launched a new trading channel connecting global investors to China's onshore bond market through CFETS. This initiative aims to enhance access for over 1,800 global investors while facilitating trading via familiar protocols. The move comes as the onshore bond market, valued at $15 trillion, experiences increased foreign investor participation. The platform's total credit trading volume reached $669 billion in Q2, signaling MarketAxess' commitment to expanding its global footprint in fixed-income trading.
MarketAxess Holdings Inc. (MKTX) reported a monthly trading volume of $467.7 billion for August 2021, split between $176.0 billion in credit volume and $291.7 billion in rates volume. This volume reflects the company's strong electronic trading platform for fixed-income securities. The report noted the impact of new FINRA corrections on volume reporting. Although the platform supports over 1,800 firms globally, there are ongoing risks from competition and technological changes that could influence future performance.
MarketAxess Holdings (Nasdaq: MKTX) will host an Investor Day on September 14, 2021, featuring presentations by CEO Rick McVey and senior management, discussing the company's strategies and growth opportunities. The virtual event allows for live Q&A sessions with analysts and investors. The webcast is scheduled from 8:30 a.m. to 12:30 p.m. ET and will be available for replay on the company's website. The press release includes cautionary notes regarding forward-looking statements and potential risks affecting future performance.