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MarketScreener Homepage  >  Equities  >  Nasdaq  >  MarketAxess Holdings Inc.    MKTX

MARKETAXESS HOLDINGS INC.

(MKTX)
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MarketAxess : Announces Monthly Volume Statistics for November 2019

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12/03/2019 | 04:00pm EST

NEW YORK, Dec. 03, 2019 (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 for the global fixed-income markets, today announced total monthly trading volume for November 2019 of $460.5 billion, consisting of $81.7 billion in U.S. high-grade volume, $78.8 billion in other credit volume, and $300.0 billion in rates volume.

Reported MarketAxess volume in all product categories includes only fully electronic trading volume. MarketAxess trading volumes, TRACE reported volumes and Trax® processed volumes are available on the Company’s website at https://investor.marketaxess.com/volume

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including statements about the outlook and prospects for Company and industry growth, as well as statements about the Company’s future financial and operating performance.  These and other statements that relate to future results and events are based on MarketAxess’ current expectations.  Actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including: the volatility of financial services markets generally; the level of trading volume transacted on the MarketAxess platform; the absolute level and direction of interest rates and the corresponding volatility in the corporate fixed-income market; the level and intensity of competition in the fixed-income electronic trading industry and the pricing pressures that may result; the variability of our growth rate; the rapidly evolving nature of the electronic financial services industry; our ability to introduce new fee plans and our clients’ response; our exposure to risks resulting from non-performance by counterparties to transactions executed between our clients in which we act as an intermediary in matching back-to-back trades; our dependence on our broker-dealer clients; the loss of any of our significant institutional investor clients; our ability to develop new products and offerings and the market’s acceptance of those products; the effect of rapid market or technological changes on us and the users of our technology; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business interruptions; our vulnerability to cyber security risks; our ability to protect our intellectual property rights or technology and defend against intellectual property infringement or other claims; our ability to enter into strategic alliances and to acquire other businesses and successfully integrate them with our business; our ability to comply with new laws, rules and regulations both domestically and internationally; our ability to maintain effective compliance and risk management methods; the strain of growth initiatives on management and other resources; our future capital needs and our ability to obtain capital when needed; limitations on our operating flexibility contained in our credit agreement; and other factors.  The Company’s actual results and financial condition may differ, perhaps materially, from the anticipated results and financial condition in any such forward-looking statements.  The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.  More information about these and other factors affecting MarketAxess’ business and prospects is contained in MarketAxess’ periodic filings with the Securities and Exchange Commission and can be accessed at www.marketaxess.com. 

About 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 record $1.7 trillion of U.S. investment-grade bonds, U.S. high-yield bonds, emerging market debt, Eurobonds and other fixed income securities traded through MarketAxess’ patented trading technology in 2018. The global community of 1,600 firms trading on MarketAxess today include the world’s leading asset managers and institutional broker-dealers. 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 enables automated trading solutions and, through its Trax® division, provides a range of pre- and post-trade services and products.

MarketAxess is headquartered in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, Salt Lake City, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.

Investor Relations Contact:

David Cresci
MarketAxess Holdings Inc.
+1-212-813-6027

Media Relations Contacts:

Kyle White
MarketAxess Holdings Inc.
+1-212-813-6355

William McBride
RF | Binder
+1-917-239-6726

MarketAxess Holdings Inc.
Monthly Volume Statistics

            
 Average Daily Volume Total Trading Volume
 Nov-19 Nov-18 % Change Nov-19 Nov-18 % Change
            
 ($ in millions)
            
U.S High Grade 1           
Fixed Rate$4,077 $3,659 11.4% $77,460 $73,186 5.8%
Floating Rate 223  227 -1.8%  4,246  4,546 -6.6%
Total U.S. High Grade 4,300  3,886 10.7%  81,706  77,732 5.1%
Other Credit 1           
U.S. High Yield 885  830 6.6%  16,816  16,599 1.3%
Emerging Markets 2,023  1,516 33.4%  38,433  30,326 26.7%
Eurobonds 1,087  714 52.2%  22,820  15,704 45.3%
Other Credit Products 37  78 -52.6%  701  1,553 -54.9%
Total Other Credit 4,032  3,138 28.5%  78,770  64,182 22.7%
Rates           
U.S. Government Bonds 2 15,636  - n/a   297,078  - n/a 
Agencies and Other Government Bonds 1 152  233 -34.8%  2,911  4,711 -38.2%
Total Rates 15,788  233 6676.0%  299,989  4,711 6267.8%
Total Volume$ 24,120 $ 7,257 232.4% $ 460,465 $ 146,625 214.0%
            
            
Number of U.S. Trading Days 3 19  20        
Number of U.K. Trading Days 4 21  22        
            
NOTES:           
1 Consistent with FINRA TRACE reporting standards, both sides of trades are included in the Company's reported volumes when the Company executes trades on a matched principal basis between two counterparties.
2U.S. Government Bonds represent U.S.Treasury volume traded through LiquidityEdge LLC, which was acquired by the Company on November 1, 2019.  Consistent with industry standards, U.S. Government Bond trades are single-counted.
3 The number of U.S. trading days is based on the SIFMA holiday recommendation calendar.
4 The number of U.K. trading days is based on the U.K. Bank holiday schedule.

 

MKTX_exlarge-1600px-fullcolor.png

Source: MarketAxess Holdings, Inc.

2019 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2019 509 M
EBIT 2019 250 M
Net income 2019 204 M
Finance 2019 208 M
Yield 2019 0,56%
P/E ratio 2019 68,1x
P/E ratio 2020 60,9x
EV / Sales2019 27,0x
EV / Sales2020 23,7x
Capitalization 13 929 M
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Mean consensus HOLD
Number of Analysts 13
Average target price 361,50  $
Last Close Price 367,28  $
Spread / Highest target 10,5%
Spread / Average Target -1,57%
Spread / Lowest Target -27,8%
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Managers
NameTitle
Richard Mitchell McVey Chairman & Chief Executive Officer
Christopher R. Concannon President, Chief Operating Officer & Director
Antonio L. DeLise CFO & Principal Accounting Officer
Nicholas Themelis Chief Information Officer
Michael Baker Chief Technology Officer
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