NEW YORK, Nov. 4, 2014 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq:MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services, will commemorate a decade of growth as a public company when it rings the NASDAQ Stock Market Opening Bell on Wednesday, November 5, 2014.
"From the beginning, MarketAxess has been focused on delivering innovative technology solutions for our dealer and investor clients to improve credit market efficiency and reduce trading costs," said Richard M. McVey, Chairman and Chief Executive Officer, MarketAxess. "Our success in that mission has allowed us to develop the broadest and deepest liquidity pool for credit, with over 1,000 investor client firms and approximately 90 broker-dealer market makers participating on our platform."
"Regulatory changes are having a fundamental impact on market structure as we enter into our second decade as a public company," said McVey. "Both dealer and investor clients are embracing our Open Trading protocols and benefitting from new sources of market liquidity. New solutions will be critical to the smooth functioning of the global secondary credit market reshaped by regulation, and with a 70% increase in U.S. corporate debt outstanding since 2004."
In its 10 years as a public company, MarketAxess has:
- Increased its U.S. high grade estimated adjusted market share to 14.0% YTD 2014 from 6.4% in 2004;
- Achieved an 86% share of electronic trading in U.S. high grade corporate bonds, according to a recent Greenwich Associates report;
- Increased combined high yield and emerging markets trading volume to $151 billion in 2013 from $22 billion in 2004;
- Expanded its active institutional investor base to over 1,000 firms in 2014 from 539 in 2004 and has grown the number of broker-dealer market-maker firms to approximately 90 in 2014 from 22 in 2004;
- Received 13 patents for its request-for-quote (RFQ), list trading and inter-dealer trading functionalities;
- Increased annual revenue to $239 million in 2013 from $76 million in 2004, achieving a compound annual growth rate of 14%;
- Generated a compound annual growth rate in diluted earnings per share of 29% from 2005 to 2013; and
- Generated a compound annual return for shareholders of 20% in the 10 years ended Oct. 24, 2014 (including reinvestment of dividends). One thousand dollars invested in MarketAxess common stock at the IPO price would be worth about $5,800 today.
A live webcast of the NASDAQ Opening Bell Ceremony starting at 9:15 AM Eastern Time on November 5, 2014 will be available at: https://new.livestream.com/nasdaq/live.
About MarketAxess
MarketAxess operates a leading electronic trading platform that enables fixed-income market participants to efficiently trade corporate bonds and other types of fixed-income instruments using MarketAxess' patented trading technology. Over 1,000 institutional investor and broker-dealer firms are active users of the MarketAxess trading platform, accessing global liquidity in U.S. high-grade corporate bonds, emerging markets and high-yield bonds, European bonds, U.S. agency bonds, credit default swaps and other fixed-income securities. MarketAxess SEF Corporation has received temporary registration from the U.S. Commodity Futures Trading Commission to operate a swap execution facility. MarketAxess also offers a number of trading-related products and services, including: market data to assist clients with trading decisions; connectivity solutions that facilitate straight-through processing; technology services to optimize trading environments; and execution services for exchange-traded fund managers and other clients. Through its Trax® division, MarketAxess also offers a range of pre- and post-trade services, including trade matching, regulatory transaction reporting and market and reference data, across a range of fixed-income products. Trax is the trading name of Xtrakter Ltd., a MarketAxess group company.
MarketAxess maintains its headquarters in New York and has offices in London, Boston, Chicago, Los Angeles, Salt Lake City, São Paulo and Singapore. For more information, please visit www.marketaxess.com.