MarketAxess Holdings Inc.
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MarketAxess Holdings Inc. - overview
Established
2000
Location
New York, NY, US
Primary Industry
Financial Services
About
MarketAxess Holdings Inc. operates an electronic trading platform that facilitates fixed income trading by enhancing liquidity and efficiency while providing comprehensive data accessibility to institutional investors across various global markets. MarketAxess Holdings Inc. , founded in 2000 and headquartered in New York, US, specializes in electronic trading solutions for fixed income markets.
The company has completed 8 deals and recently raised USD 35. 00 mn in a PIPE round, bringing its total funding to USD 35. 00 mn. The firm focuses on providing an extensive trading platform and data services to a diverse range of clients, which include market makers and institutional traders.
MarketAxess provides a comprehensive electronic trading platform that primarily serves the fixed income market, focusing on enhancing liquidity, data accessibility, and trading efficiency for its users. The core product offerings include CP+, an advanced pricing tool that delivers extensive pricing data on a wide range of bonds, and X-Pro, a customizable interface designed to streamline trading workflows. The company's platform integrates with various market systems, such as the NDS-OM used for Indian Government Bonds, thereby extending its reach across 30 emerging market local currency bond markets. MarketAxess caters to a diverse client base, including Foreign Portfolio Investors (FPIs), market makers, and institutional traders, facilitating efficient trading operations in regions such as Latin and South America, Europe, Asia-Pacific, and China.
For the year 2023, MarketAxess reported a revenue of USD 752. 55 mn and an EBITDA of USD 391. 43 mn. Revenue is primarily generated through transaction fees associated with trades executed on its platform, which operates on a B2B model targeting institutional clients.
The transaction structure is designed to support both direct trading and algorithmic execution, allowing clients to leverage data-driven analytics for optimized trade management. The firm's flagship product, CP+, enables clients to access daily pricing data on a vast array of bonds, significantly surpassing the availability from public sources. Pricing plans for the services are tailored to meet the needs of various market participants, ensuring that clients can benefit from actionable insights and efficient execution strategies. The revenue model is further supported by ongoing partnerships and collaborations with financial institutions globally, solidifying MarketAxess's position within the fixed income trading ecosystem.
Recent developments include the exit of NEXT investors from their stake in MarketAxess Holdings Inc. The firm plans to leverage its latest funding to support upcoming product launches and to expand its market presence. Specific details regarding upcoming products or new geographic expansions have not been disclosed, but the company continues to explore opportunities that align with its strategic goals.
Current Investors
NEXT Investors
Primary Industry
Financial Services
Sub Industries
e-Financial, Analytics & Performance Software, Information Services
Website
www.marketaxess.com
Verticals
FinTech
Total Amount Raised
Subscriber access only
MarketAxess Holdings Inc. - timeline of key events
MarketAxess Holdings Inc. - financials
| Fiscal Year Ended | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 181,099,000 | 198,204,000 | 238,733,000 | 262,774,000 | 303,098,000 | 369,919,000 | 397,471,000 | 435,565,000 | 511,352,000 | 689,125,000 | 698,951,000 | 718,300,000 | - | - | - |
| % Revenue Growth (YoY) | - | 9.4% | 20.4% | 10.1% | 15.3% | 22.0% | 7.4% | 9.6% | 17.4% | 34.8% | 1.4% | 2.8% | - | - | - |
| EBITDA (USD) | 85,514,000 | 94,919,000 | 120,331,000 | 135,915,000 | 166,442,000 | 209,440,000 | 221,042,000 | 235,664,000 | 283,534,000 | 417,566,000 | 397,481,000 | 394,030,000 | - | - | - |
| Operating Income (USD) | 78,733,000 | 86,686,000 | 107,280,000 | 118,536,000 | 147,900,000 | 191,602,000 | 201,768,000 | 212,584,000 | 250,882,000 | 374,728,000 | 337,235,000 | 326,876,000 | - | - | - |
| Operating Margin | 43.5% | 43.7% | 44.9% | 45.1% | 48.8% | 51.8% | 50.8% | 48.8% | 49.1% | 54.4% | 48.2% | 45.5% | - | - | - |
| % EBITDA Margin | 47.2% | 47.9% | 50.4% | 51.7% | 54.9% | 56.6% | 55.6% | 54.1% | 55.4% | 60.6% | 56.9% | 54.9% | - | - | - |
| NET Income (USD) | 47,704,000 | 60,069,000 | 76,016,000 | 74,806,000 | 96,037,000 | 126,172,000 | 148,089,000 | 172,852,000 | 204,902,000 | 299,377,000 | 257,888,000 | 250,224,000 | - | - | - |
| % Net Margin | 26.3% | 30.3% | 31.8% | 28.5% | 31.7% | 34.1% | 37.3% | 39.7% | 40.1% | 43.4% | 36.9% | 34.8% | - | - | - |
MarketAxess Holdings Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unspecified Exit | Completed | MarketAxess Holdings Inc. | - | ||||||||
| Buyout | Completed | MarketAxess Holdings Inc. | - |
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MarketAxess Holdings Inc. - employee data
MarketAxess Holdings Inc. - key contacts
| Name | Position | Start Date | End Date | Vcard | Bio | ||
|---|---|---|---|---|---|---|---|
| President and Member of Board of Directors | BM |
BM Board Member
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