[Form 4] MARKETAXESS HOLDINGS INC Insider Trading Activity

Rhea-AI Filing Summary

Kevin M. McPherson, Chief Revenue Officer of MarketAxess Holdings Inc. (MKTX), reported a sale of 1,494 shares of the company's common stock on 09/12/2025. The reported weighted-average sale price was $185.32, with executed trades priced between $185.00 and $185.61. After the sale, the filing shows Mr. McPherson beneficially owned 67,681 shares. The Form 4 was signed by an attorney-in-fact on 09/15/2025. The filing states the seller will provide detailed per-trade quantities and prices to the SEC staff, the issuer, or a security holder upon request.

Positive

• Insider transaction disclosed via a signed Form 4, providing transparency to investors
• Price range disclosed ($185.00 to $185.61) with a weighted-average sale price reported

Negative

• Insider sold 1,494 shares, reducing beneficial ownership to 67,681 shares
• No rationale provided for the disposition within the filing

Insights

Securities Analyst

TL;DR: Insider sale disclosed; transaction size appears modest relative to continuing holdings.

The filing documents a single-day open-market sale of 1,494 shares executed on 09/12/2025 at a weighted-average price of $185.32. The report provides explicit price range information ($185.00 to $185.61) and states the remaining beneficial ownership is 67,681 shares. This is a routine Section 16 disclosure of an insider disposition and includes a signed Form 4 executed by an attorney-in-fact. The filing does not include reasons for the sale, nor any derivative transactions. Based solely on the information provided, this is a standard disclosure with no additional material details.

Corporate Governance Expert

TL;DR: Proper Form 4 filing documented; signature and explanatory note comply with disclosure norms.

The document contains required elements: reporting person identity, relationship to the issuer (Chief Revenue Officer), transaction date (09/12/2025), transaction code (S for sale), number of shares sold (1,494), weighted-average price ($185.32), and post-transaction holdings (67,681 shares). The explanatory footnote clarifies execution across multiple trades and offers to provide per-trade details on request. The Form is signed by an attorney-in-fact, dated 09/15/2025. There are no indications of late amendment or omitted fields in the provided content.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

McPherson Kevin M

(Last) (First) (Middle)

C/O MARKETAXESS HOLDINGS INC.

55 HUDSON YARDS, 15TH FLOOR

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MARKETAXESS HOLDINGS INC [ MKTX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Revenue Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.003 per share	09/12/2025		S		1,494	D	$185.32(1)	67,681	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The transactions were executed in multiple trades at prices ranging from $185.00 to $185.61. The price above reflects the weighted average sales price. Detailed information regarding the number of shares sold at each separate price will be provided upon request by the Commission staff, the Issuer or a security holder of the Issuer.

	/s/ Patrick Wilson, as Attorney-in-Fact for Kevin M. McPherson	09/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Kevin M. McPherson report for MKTX?

The Form 4 reports a sale of 1,494 shares of MarketAxess common stock executed on 09/12/2025.

At what price were the MKTX shares sold by the insider?

The reported weighted-average sale price was $185.32, with trades executed between $185.00 and $185.61.

How many MKTX shares does Kevin M. McPherson own after the sale?

Following the reported transaction, the filing shows beneficial ownership of 67,681 shares.

When was the Form 4 signed and who signed it?

The Form 4 was signed by Patrick Wilson, as Attorney-in-Fact for Kevin M. McPherson on 09/15/2025.

Does the filing provide per-trade quantities and prices?

The filing states trades occurred at multiple prices and offers that detailed per-trade quantities and prices will be provided upon request to the SEC staff, the issuer, or a security holder.