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Companies / Financials / MarketAxess Holdings Inc.
MKTX

MarketAxess Holdings Inc.

FinancialsBanks & Brokers
Ticker MKTXNEW YORK, NYFiscal year ends DecemberBook value per share $35.08Diluted shares 35.3M

MarketAxess Holdings Inc. (Nasdaq: MKTX) operates electronic trading platforms for institutional investors, broker-dealers and other participants in global fixed-income and related markets. Its services support trading in corporate and government bonds, emerging-market debt, eurobonds, municipal bonds, equities,… From the company’s description.

In fiscal 2025, MarketAxess Holdings Inc. reported revenue of $846.27M, up 3.6% from fiscal 2024, and net income of $246.91M. Its pre-tax margin was 40.4%. Over the twelve months to Jun 30, 2026, revenue was $870.03M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$846.27MFY2025
+3.6% year over year
Last 12 mo $870.03M
40.39%FY2025
−1.3 percentage points
Last 12 mo 40.50%
$246.91MFY2025
−9.9% year over year
Last 12 mo $307.10M
21.53%FY2025
+1.8 percentage points
Last 12 mo 24.73%
Cash & financing
$382.14MFY2025
−0.8% year over year
Last 12 mo $200.28M
$324.13MFY2025
−1.4% year over year
Last 12 mo $142.59M
0.19FY2025
Last 12 mo 0.09
37.1MFY2025
−1.4% year over year
Last 12 mo 35.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What MarketAxess Holdings Inc. does

In the company’s own words

MarketAxess Holdings Inc. (Nasdaq: MKTX) operates electronic trading platforms for institutional investors, broker-dealers and other participants in global fixed-income and related markets. Its services support trading in corporate and government bonds, emerging-market debt, eurobonds, municipal bonds, equities, foreign exchange, exchange-traded funds and derivatives. The platforms combine trading protocols, automated execution, pricing data and analytics, and post-trade and technology services. Open Trading is an anonymous, all-to-all marketplace connecting participants, while disclosed request-for-quote tools enable investors to solicit prices from dealers. MarketAxess also provides regulatory reporting, trade matching and market data services. In 2025, commissions from platform transactions generated 86.8% of revenue; data products, post-trade services and technology services accounted for the remainder. The company serves approximately 2,100 institutional investor and broker-dealer firms, with clients in about 90 countries. Its 2023 acquisition of Pragma expanded its algorithmic trading capabilities in equities and foreign exchange, and its 2025 acquisition of a majority stake in RFQ-hub extended its reach into ETF and derivatives trading.

Company details
Sector
Financials
Industry (SIC)
Banks & Brokers
Headquarters
NEW YORK, NY
Fiscal year end
December
CIK
1278021
SIC
6211

Financial performance, year by year

Fiscal 2013–2025 · USD
$-87.00M$174.01M$435.01M$696.02M$957.03M2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns MarketAxess Holdings Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

366
funds hold it
0 of 35
superinvestors hold it
$2.18B
held by funds, at market
49.8%
of shares held by funds

Largest fund holders · MarketAxess Holdings Inc.’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.22%of fund net assets
VANGUARD CAPITAL OPPORTUNITY FUND
VHCOX · VANGUARD HORIZON FUNDS
0.64%of fund net assets
PRIMECAP Odyssey Aggressive Growth Fund
POAGX · PRIMECAP Odyssey Funds
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.05%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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