You might also like
MarketAxess Holdings Inc. operates leading electronic trading platforms that enhance trading efficiency and provide a diversified pool of liquidity for clients in the global fixed-income markets. Their platforms are utilized by over 2,000 institutional investor and broker-dealer firms to trade various fixed-income securities, including U.S. high-grade and high-yield bonds, emerging market debt, Eurobonds, municipal bonds, and U.S. government bonds . The company offers automated and algorithmic trading solutions, integrated data offerings, and a range of post-trade services, which include straight-through processing, post-trade matching, and regulatory transaction reporting .
- Commissions for Transactions - Generates revenue from commissions for transactions executed on its platforms, primarily in the fixed-income markets.
- Information Services - Provides integrated data offerings that support trading decisions and market analysis.
- Post-Trade Services - Offers services such as straight-through processing, post-trade matching, and regulatory transaction reporting to streamline post-trade activities.
- Technology Services - Delivers technology solutions that enhance trading efficiency and support electronic trading platforms.
- Algorithmic Trading Services - Includes commissions on equities and foreign exchange products, expanded through the acquisition of Pragma LLC .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Christophe Roupie Executive | Head of EMEA and APAC | None | Christophe Roupie joined MKTX in March 2017 and became Head of EMEA and APAC in May 2020. He has driven record revenues and volumes in these regions. | |
Christopher R. Concannon Executive | CEO and Interim CFO | None | Christopher R. Concannon joined MKTX in January 2019 as President and COO, became CEO in April 2023, and Interim CFO in February 2024. He previously held leadership roles at Cboe Global Markets, Bats Global Markets, and Nasdaq. | View Report → |
Ilene Fiszel Bieler Executive | CFO | None | Ilene Fiszel Bieler became CFO in May 2024. She previously held senior roles at State Street Corporation, Barclays, and Citigroup, specializing in investor relations and financial operations. | |
Kevin M. McPherson Executive | Chief Revenue Officer | None | Kevin M. McPherson joined MKTX in March 1999 and became Chief Revenue Officer in July 2023. He has led global sales efforts and achieved record trading volumes and revenues. | |
Naineshkumar S. Panchal Executive | Chief Information Officer (CIO) | None | Naineshkumar S. Panchal joined MKTX in March 2022 as CIO. He previously held senior technology leadership roles at Goldman Sachs and Andersen Consulting. | |
Scott Pintoff Executive | General Counsel and Corporate Secretary | None | Scott Pintoff has been General Counsel and Corporate Secretary at MKTX since February 2014, overseeing legal, compliance, and regulatory affairs. | |
Carlos Hernandez Board | Director | Pensativa Partners, Calvary Hospital, Johns Hopkins University Advisory Board, Greenwich Hospital, Overland Advantage | Carlos Hernandez rejoined the MKTX Board in September 2023. He is the founder of Pensativa Partners and a former Executive Chair of Investment and Corporate Banking at JPMorgan. | |
Jane Chwick Board | Director | M&T Bank Corporation, Thoughtworks Holding, Voya Financial | Jane Chwick joined the MKTX Board in October 2013. She is a former Partner and Co-COO of Goldman Sachs Technology Division and has expertise in technology and operations. | |
Kourtney Gibson Board | Director | TIAA, Viterbo University, Chicago Scholars Foundation, Dibia Dream Foundation | Kourtney Gibson joined the MKTX Board in July 2020. She is the Chief Institutional Client Officer at TIAA and has extensive experience in financial markets. | |
Nancy Altobello Board | Director | Amphenol Corporation, WEX Inc., Fidelity Charitable | Nancy Altobello joined the MKTX Board in April 2019. She is a former Global Vice Chair at Ernst & Young and brings expertise in audit, compliance, and talent strategy. | |
Richard G. Ketchum Board | Director | GSS (BNY Mellon subsidiary) | Richard G. Ketchum has been a Director at MKTX since April 2017. He is a former Non-Executive Chairman of Sculptor Capital Management and has extensive regulatory experience. | |
Roberto Hoornweg Board | Director | None | Roberto Hoornweg joined the MKTX Board in March 2025. He has held senior roles at Standard Chartered, Brevan Howard, UBS, and Morgan Stanley. | |
Stephen P. Casper Board | Director | GMO LLC, Brooklyn Museum Investment Committee | Stephen P. Casper has been a Director at MKTX since April 2004. He is a CPA and has held leadership roles in financial services, including as President of TRG Management. | |
Steven L. Begleiter Board | Director | Great Ajax Corp., Flexpoint Ford portfolio companies | Steven L. Begleiter has been a Director at MKTX since April 2012. He is a Managing Director at Flexpoint Ford and has extensive experience in financial services and private equity. | |
William F. Cruger Board | Director | M&T Bank Corporation, Virtu Financial | William F. Cruger has been a Director at MKTX since November 2013. He is a former Vice Chairman of Investment Banking at JPMorgan Chase. |
-
You've previously projected that the high-grade market would become 90% electronified, up from around 50% today, but electronification gains have slowed in recent years; do you expect this pace to accelerate soon due to your focus on block trading, or will capturing the remaining market share be a prolonged process?
-
Despite recent gains in portfolio trading market share, do clients now perceive your offering as on par with your main competitor's, or is there still a gap; what specific enhancements are you implementing to close this gap and what feedback are you receiving from clients?
-
Regarding your high-touch strategy and block trading initiatives, should we anticipate significant market share gains in 2025, or is the adoption process more gradual, requiring a client-by-client education effort?
-
With a portion of your emerging markets business driven by U.S.-based asset managers, how might higher tariffs or reduced allocations to emerging markets by these clients impact your overall credit business?
-
Given potential easing of regulatory constraints on dealers under the new administration, do you foresee any changes in dealer behavior that could affect the electronification process or your competitive positioning?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Indirectly controlled by the London Stock Exchange, competes in the credit and municipal markets, and also in the rates markets. It is also a competitor in post-trade services in Europe with ARM and APA designations. | |
Bloomberg | Competes in the credit and municipal markets, and also in the rates markets. It is a large market data and information provider, competing with the company's data business. |
Competes in the credit and municipal markets, and also in the rates markets. It has acquired BondPoint and TMC Bonds, retail-focused platforms, and IDC, a provider of fixed-income data. | |
Trumid | Competes in the credit and municipal markets. |
Competes in the rates markets. | |
BGC Partners (Fenics UST) | Competes in the rates markets. |
A large market data and information provider, competing with the company's data business. | |
Refinitiv | Owned by the London Stock Exchange, competes with the company's data business. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
RFQ-hub Holdings LLC | 2024 | Planned acquisition: Building on a $34.4M initial minority stake from May 2022, the firm signed an agreement on April 19, 2024, to acquire an additional 49% interest for approximately $37.9M in cash, which will give it a 92% controlling stake upon closing in the second half of 2024 pending regulatory approvals. |
Pragma | 2023 | Completed acquisition: MarketAxess finalized its $128.6M deal (including $80.4M cash and 216,173 shares) on October 2, 2023, to incorporate Pragma’s strengths in algorithmic trading and AI-driven analytics, thereby enhancing its quantitative execution and fixed-income product offerings. |
No recent press releases or 8-K filings found for MKTX.