Financial Data and Key Metrics Changes - The company reported total revenue of $198 million for Q2 2024, reflecting a 10% increase year-over-year, including $8 million from the Pragma acquisition [18] - Diluted earnings per share were $1.72, with total operating expenses increasing by 12% to $116 million, which included $8 million from Pragma [5][20] - Commission revenue reached $172 million, an increase of 8% from the previous year, driven by growth in emerging markets and U.S. high-grade products [19] Business Line Data and Key Metrics Changes - Emerging markets commission revenue increased by 22%, with significant growth in local markets trading volume, particularly in LATAM and APAC, which rose by 27% and 35% respectively [11] - The U.S. high-grade trading segment saw a 4% increase, while Eurobonds grew by 11% [19] - Automation trade volume represented 10% of total credit volume, with a record 27% of total credit trade count attributed to automation [17] Market Data and Key Metrics Changes - International client trade volume was up 12% year-over-year, with trade count increasing by 14% [14] - Open Trading average daily volume (ADV) was $4 billion, maintaining a 34% share of total credit volume [10] - Hedge fund trade activity increased by 28%, with a record 204 hedge funds providing liquidity through Open Trading [16] Company Strategy and Development Direction - The company is focused on growing market share through the global rollout of the X-Pro platform, which aims to enhance trading solutions and improve client workflows [6][8] - Strategic priorities include expanding fixed income trading revenue, enhancing client network experience, and leveraging AI for innovative technology solutions [12][13] - The partnership with ICE aims to connect liquidity pools, enhancing client access to a broader range of trading options [26][49] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the macroeconomic environment, noting increased trading volumes and potential rate cuts in 2024 as positive indicators [23] - The company is committed to executing its growth strategy while managing expenses, with expectations for full-year 2024 expenses to be slightly below the previously stated range [20][21] - Management highlighted the importance of adapting to market conditions, particularly in periods of volatility, to capture trading opportunities [32][34] Other Important Information - The company announced a new share repurchase program of $200 million, reflecting confidence in its performance and outlook [21] - The balance sheet remains strong, with cash and investments totaling $559 million as of June 30 [22] Q&A Session Summary Question: Can you provide details on the ICE deal and its benefits? - The ICE partnership was driven by client demand for liquidity across both platforms, allowing for a more comprehensive trading experience without needing to switch platforms [25][26] Question: What are the expectations regarding recent market volatility? - Management noted positive trends in trading activity during recent volatility but cautioned that it is too early to predict sustainability [32][33] Question: How is the rollout of X-Pro impacting trading behavior? - The X-Pro platform has seen over 60% of trade activity from the largest clients, indicating a successful adoption and increased trading velocity [37][38] Question: What is the outlook for emerging markets trading? - The company sees significant growth potential in emerging markets, particularly in local currency trading, which is still in early stages of electronification [56] Question: How does the ICE agreement affect market share dynamics? - Market share will be reported based on where trades are executed, with both platforms benefiting from increased liquidity access [58][59]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34091 | --- | --- | |------------------------------------------------------------------------------------------------------------ ...

MarketAxess Holdings Inc. (MKTX) reported second-quarter 2024 earnings per share of $1.72, which surpassed the Zacks Consensus Estimate by 1.8%. The bottom line grew 5.5% year over year. Total revenues of $197.7 million rose 10% year over year. The top line fell short of the consensus mark of $198 million. The better-than-expected quarterly results were driven by a solid improvement in U.S. high-grade commission revenues. Geographic expansion and product diversification drove the average daily volume (ADV) ...

MarketAxess (MKTX) reported $197.66 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 9.9%. EPS of $1.72 for the same period compares to $1.63 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $198.26 million, representing a surprise of -0.30%. The company delivered an EPS surprise of +1.78%, with the consensus EPS estimate being $1.69. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- an ...

MarketAxess (MKTX) came out with quarterly earnings of $1.72 per share, beating the Zacks Consensus Estimate of $1.69 per share. This compares to earnings of $1.63 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.78%. A quarter ago, it was expected that this operator of bond trading platforms would post earnings of $1.85 per share when it actually produced earnings of $1.92, delivering a surprise of 3.78%. Over the last four ...

Exhibit 99.1 MarketAxess Reports Second Quarter 2024 Financial Results Revenue Growth of 10% Driven by Growth in Total Credit ADV and Pragma Revenues Second Strongest Quarter for Total Credit ADV with Strong Growth Across Most Products Record Eurobonds ADV, Portfolio Trading Volume and Muni Bond Estimated Market Share Board Increases Share Repurchase Authorization to $250 Million NEW YORK | August 6, 2024 - MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for f ...

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. The consensus EPS estimate for the quarter has been revised 2.4% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Thus, a positive ...

MarketAxess Holdings Inc. (MKTX) recently announced the execution of the first portfolio trade for taxexempt municipal bonds, which took place earlier this month between a large asset manager and a bank. The new portfolio trading for tax-exempt municipal bonds is expected to bring certainty of execution and unparalleled efficiency for traders dealing with municipal bonds. With this new tool, clients can send lists to a single dealer or multiple parties, negotiate price movements and execute trades discreetl ...

What's the first image that comes to mind when prompted with the word "market"? It might be your online brokerage website, the stock pages of a newspaper's business section, the hectic trading floor of the New York Stock Exchange, or the even more hectic souks of Marrakesh (stay away from the aggressive watch salesmen!). For anyone with more than a few years of experience in the financial markets, you'll have observed much modernization in the way markets function. I'm old enough to remember buying my first ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Commission File Number 001-34091 MARKETAXESS HOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware 52-2230784 (State or other juris ...