MarketAxess Says Weaker Dollar Vs Pound Eased 2Q Revenue Loss -- Currency Comment

By Paulo Trevisani

MarketAxess Holdings Inc. said Wednesday a weakening U.S. dollar versus the British pound helped curb second-quarter revenue losses.

The New York electronic-trading platform operator reported earnings of $1.77 a share, a 20% drop from a year earlier, on revenues of $176.3 million, 5% lower from the second quarter of 2020.

The fall in revenue was driven by a 9% drop in commissions, while information services, post-trade services and other revenue rose to $19.9 million from $12.7 million a year earlier, MarketAxess said.

Non-commission revenue growth included $1.3 million due to the weaker U.S. dollar to U.K. pound exchange rate, the company said.

The greenback lost 0.4% versus the sterling in the second quarter.

Write to Paulo Trevisani at [e-mail]

(END) Dow Jones Newswires

07-21-21 1112ET