Question · Q4 2025
Chris O’Brien inquired about MarketAxess's capital return strategy, specifically regarding share repurchases in 2026, given the strong start to the year for industry volumes.
Answer
CFO Ilene Fiszel Bieler stated that MarketAxess recently completed a significant Accelerated Share Repurchase (ASR) and that the first priority is to pay down the $220 million revolver used for the ASR. She noted that $205 million remains on the board's share repurchase authorization with no end date, and the company also increased its dividend to $0.78 per share as part of its capital return strategy.
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