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MKTX MarketAxess

MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets. A global network of over 1,800 firms, including the world's leading asset managers and institutional broker-dealers, leverages MarketAxess' patented trading technology to efficiently trade bonds. MarketAxess' award-winning Open Trading™ marketplace is regarded as the preferred all-to-all trading solution in the global credit markets, creating a unique liquidity pool for a broad range of credit market participants. Drawing on its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services.

Company profile

Ticker
MKTX
Exchange
CEO
Richard McVey
Employees
Location
Fiscal year end
Former names
MARKETAXESS HOLDING INC
SEC CIK
Subsidiaries
MarketAxess Corporation • MarketAxess SEF Corporation • MarketAxess Technologies Inc. • MarketAxess Colombia Corp. • LiquidityEdge LLC • MarketAxess Limited • MarketAxess Europe Limited • Xtrakter Limited • MarketAxess Capital Limited • LiquidityEdge UK Limited ...
IRS number
522230784

MKTX stock data

(
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Calendar

27 Jul 21
25 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from MarketAxess earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 545.24M 545.24M 545.24M 545.24M 545.24M 545.24M
Cash burn (monthly) 2.48M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 9.59M n/a n/a n/a n/a n/a
Cash remaining 535.65M n/a n/a n/a n/a n/a
Runway (months of cash) 216.0 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Sep 21 Themelis Nicholas Common Stock, par value $0.003 per share Sell Dispose S No Yes 473.4 200 94.68K 11,587
7 Sep 21 Themelis Nicholas Common Stock, par value $0.003 per share Sell Dispose S No Yes 466.01 200 93.2K 11,787
7 Sep 21 Themelis Nicholas Common Stock, par value $0.003 per share Sell Dispose S No Yes 463.33 100 46.33K 11,987
7 Sep 21 Themelis Nicholas Common Stock, par value $0.003 per share Sell Dispose S No Yes 461.31 100 46.13K 12,087
7 Sep 21 Themelis Nicholas Common Stock, par value $0.003 per share Sell Dispose S No Yes 460.36 500 230.18K 12,187
7 Sep 21 Themelis Nicholas Common Stock, par value $0.003 per share Sell Dispose S No Yes 458.58 800 366.86K 12,687
7 Sep 21 Themelis Nicholas Common Stock, par value $0.003 per share Sell Dispose S No Yes 456.85 100 45.69K 13,487
20 Aug 21 Kevin M McPherson Common Stock, par value $0.003 per share Sell Dispose S No No 480.04 647 310.59K 71,088
20 Aug 21 Kevin M McPherson Common Stock, par value $0.003 per share Sell Dispose S No No 478.24 403 192.73K 71,735
20 Aug 21 Kevin M McPherson Common Stock, par value $0.003 per share Sell Dispose S No No 475.86 1 475.86 72,138

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

93.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 528 566 -6.7%
Opened positions 49 56 -12.5%
Closed positions 87 78 +11.5%
Increased positions 188 203 -7.4%
Reduced positions 212 212
13F shares
Current Prev Q Change
Total value 16.5B 17.38B -5.1%
Total shares 35.59M 34.89M +2.0%
Total puts 76.2K 96.2K -20.8%
Total calls 86.7K 85.6K +1.3%
Total put/call ratio 0.9 1.1 -21.8%
Largest owners
Shares Value Change
Vanguard 4.1M $1.9B -0.7%
TROW T. Rowe Price 3.59M $1.66B +65.0%
BLK Blackrock 3.54M $1.64B +2.3%
STT State Street 1.79M $828.25M +1.3%
Baillie Gifford & Co 1.77M $822.7M +1.6%
Ownership Capital B.V. 1.31M $606.23M +10.8%
WFC Wells Fargo & Co. 1.3M $602.96M +11.0%
JPM JPMorgan Chase & Co. 1.02M $475.17M -5.5%
RY Royal Bank Of Canada 1.02M $474.86M +5.7%
Wellington Management 782.91K $362.95M +24.2%
Largest transactions
Shares Bought/sold Change
TROW T. Rowe Price 3.59M +1.41M +65.0%
MCQEF Macquarie 606.18K +601.69K +13403.7%
WDR Waddell & Reed Financial 0 -570.49K EXIT
American Century Companies 150.23K -297.72K -66.5%
FMR 154.54K -207.28K -57.3%
Wellington Management 782.91K +152.6K +24.2%
Capital World Investors 0 -151.4K EXIT
Renaissance Technologies 304.14K -148.91K -32.9%
IVZ Invesco 476.67K -135.55K -22.1%
WFC Wells Fargo & Co. 1.3M +128.89K +11.0%

Financial report summary

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Management Discussion
  • A 12.9% change in the average foreign currency exchange rates of the British pound sterling compared to the U.S. dollar from the three months ended June 30, 2020 had the effect of increasing each of revenues and expenses by $2.4 million for the three months ended June 30, 2021.
  • Commissions. Our commission revenues for the three months ended June 30, 2021 and 2020, and the resulting dollar and percentage changes, were as follows:
  • U.S. high-grade variable transaction fees decreased $18.8 million due to a 21.4% decrease in trading volume and a 4.0% decrease in average variable transaction fee per million. Other credit variable transaction fees increased $0.1 million due to a 5.4% increase in trading volume offset by a 5.0% decrease in the average variable transaction fee per million. Open Trading credit volume totaled $216.3 billion during the three months ended June 30, 2021, down 10.2%, and represented 31.3% and 32.3% of variable transaction fees for the three months ended June 30, 2021 and 2020, respectively. The 6.1% decrease in variable transaction fees for rates was mainly attributable to lower U.S. Treasury trading volume.  
Content analysis
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Positive
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Uncertain
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Readability
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New words: begun, benign, favoring, flat, markedly, resumption, retention, training, velocity, wholesome
Removed: altered, coupled, created, damaging, distancing, gain, hiring, implementing, initiative, portfolio, recruiting, reprioritized, social, stay, TM, Trax, world