MarketAxess Holdings Inc. (MKTX) announced impressive growth in its trading volumes for the first quarter of 2025. The total credit average daily trading volume (ADV) reached nearly $15.9 billion, marking a year-over-year increase of 6%. This growth was driven by notable gains across various segments, including a 9% boost in emerging markets ADV, and 15% growth in Eurobonds ADV. Total ADV rose 31% to $42.9 billion in the March quarter. One of the standout performers was the Municipal bonds segment (42%), wi ...

Core Insights - MarketAxess Holdings Inc. (MKTX) is experiencing growth due to rising commissions, strategic acquisitions, collaborations, and a strong financial position that supports expansion and shareholder returns [1] Financial Performance - MKTX has a Zacks Rank of 3 (Hold) and has gained 12.9% in the past month, outperforming the industry which declined by 4.4% [2] - The Zacks Consensus Estimate for MKTX's 2025 earnings is $7.70 per share, reflecting a year-over-year improvement of 5.8%, with revenues estimated at $876.3 million, indicating a 7.2% increase [3] - For 2026, earnings are projected at $8.63 per share, a 12.1% increase from 2025, with revenues expected to reach $969 million, a 10.6% improvement [4] - MKTX has consistently beaten earnings estimates in the last four quarters, with an average surprise of 2.93% [5] Operational Efficiency - The return on equity for MKTX stands at 20.2%, significantly higher than the industry average of 12%, demonstrating effective utilization of shareholders' funds [7] Market Position and Growth Drivers - MKTX benefits from rising trading volumes, which are a key driver of commission-based revenues, reporting an average daily trading volume of $37.1 billion in 2024, a 19% increase year-over-year [8] - The company has captured significant market share across various products, including U.S. High Grade, U.S. High Yield, Eurobonds, Emerging Markets, and Municipal Bonds [9] - MKTX actively pursues strategic acquisitions and partnerships to enhance its offerings and expand its presence in the fixed-income market [10] - The company serves over 1,000 active clients globally, with ongoing investments in international markets expected to drive sustained revenue growth [11] Financial Strength - MKTX's robust financial position is supported by strong liquidity and operating cash flows, with net cash generated from operations totaling $385.2 million in 2024, a 15.4% increase year-over-year [12]

(Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34091 MARKETAXESS HOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware 52-2230784 (State of incorporation) (IRS ...

Financial Data and Key Metrics Changes - The company reported a 9% growth in revenue for 2024, marking the strongest annual revenue growth rate since 2020, with record commission and services revenue [8][11] - Total revenue for Q4 2024 was $202 million, compared to $197 million in the prior year, with commission revenue increasing by 2% [35][36] - The effective tax rate was 23%, and diluted earnings per share were reported at $1.73 [38] Business Line Data and Key Metrics Changes - In the credit business, the company generated a record $712 million in commission revenue, with strong growth in emerging markets and Eurobonds [11][39] - The rates business saw trading ADV increase significantly from $2.9 billion per day in Q1 2024 to $11.4 billion in Q4 2024 [13] - Portfolio trading ADV reached over $900 million, with U.S. credit portfolio trading ADV at $800 million and a market share of 16% [33] Market Data and Key Metrics Changes - U.S. credit ADV was up 10% to $8 billion, while international product ADV reached a record $5 billion, up 17% [28] - The company reported record local markets ADV of over $1.4 billion, up 18% [29] - Open Trading ADV was a record $4 billion in 2024, an increase of 8% [31] Company Strategy and Development Direction - The company plans to focus on growing market share across client-initiated, portfolio trading, and dealer-initiated channels in 2025 [10][20] - A new block trading solution was launched in emerging markets and Eurobonds, with plans for a full rollout in U.S. credit by Q2 2025 [10][60] - The company aims to enhance its dealer solutions and expand its automation suite to support global product offerings [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the favorable macro environment for fixed income markets, with positive inflows into fixed income funds [66] - The company acknowledged challenges in U.S. credit market share but emphasized a clear strategy to return to growth [19][75] - Management highlighted the importance of data and analytics in driving client engagement and trading efficiency [88][90] Other Important Information - The company announced the appointment of Roberto Hoornweg to the Board of Directors, effective March 1, 2025 [7] - The balance sheet remains strong, with cash and equivalents totaling $699 million as of December 31, 2024 [42] Q&A Session Summary Question: Why was the block trading launch led with emerging markets and Eurobonds? - Management explained that the decision was based on strong pre-trade analytics and client demand in those markets, with a successful increase in EM block market share [52][54] Question: What gives confidence in growing market share in high grade? - Management cited favorable market conditions, robust new issue markets, and the introduction of multiple trading protocols as key drivers for growth [66][70] Question: What are the key areas for electronification in the market? - Management identified the block market and retail space as significant opportunities for electronification, particularly in emerging markets [84][88] Question: Can you discuss the motivation behind acquiring the rest of RFQ hub? - The acquisition aims to enhance cross-asset trading capabilities and provide clients with access to fixed income ETFs alongside traditional products [146][150] Question: What initiatives are planned for the rates platform? - Management highlighted the launch of algorithmic solutions and a hybrid offering that combines electronic and traditional RFQ solutions as key initiatives for growth in the rates market [161][163]

MarketAxess Holdings Inc. (MKTX) reported fourth-quarter 2024 earnings per share of $1.73, which outpaced the Zacks Consensus Estimate by 1.8%. The bottom line decreased 6% year over year.See the Zacks Earnings Calendar to stay ahead of market-making news.Total revenues advanced 3% year over year to $202 million. However, the top line missed the consensus mark by 0.5%.MarketAxess benefited from increased commission revenues, strong growth in information services revenues, higher total credit trading volume ...

4Q & FY 2024 Earnings Conference Call February 6, 2025 Strategic Update ❖Chris Concannon, CEO 2 Strategic update: solid financial performance in FY 2024¹ | | • Strongest annual revenue growth since 20202 | | | --- | --- | --- | | FINANCIAL | • | Record total ADV, record commission revenue2 , record services2,3 revenue | | | • | 9% growth in revenue to a record $817.1 million | | PERFORMANCE | • | 6% growth in diluted earnings per share to $7.28 | | | • | $328 million in TTM free cash flow4 generation | | | ...

Core Viewpoint - MarketAxess reported quarterly earnings of $1.73 per share, exceeding the Zacks Consensus Estimate of $1.70 per share, but down from $1.84 per share a year ago, indicating a 6% year-over-year decline in earnings [1][2] Financial Performance - The company posted revenues of $202.4 million for the quarter ended December 2024, which missed the Zacks Consensus Estimate by 0.47% and represents a 2.4% increase from $197.25 million in the same quarter last year [2] - Over the last four quarters, MarketAxess has surpassed consensus EPS estimates four times, but has only topped consensus revenue estimates once [2] Stock Performance - MarketAxess shares have declined approximately 12.4% since the beginning of the year, contrasting with the S&P 500's gain of 3.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.03 on revenues of $226.03 million, and for the current fiscal year, it is $8.05 on revenues of $901.73 million [7] - The trend of estimate revisions for MarketAxess is mixed, which could change following the recent earnings report [6] Industry Context - The Securities and Exchanges industry, to which MarketAxess belongs, is currently ranked in the bottom 31% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of MarketAxess may be influenced by the overall outlook for the industry [8]

Exhibit 99.1 MarketAxess Reports Fourth Quarter and Full Year 2024 Financial Results Record Full Year Revenue of $817 Million, Up 9% Strong Full Year Commission Revenue Growth Across Most Product Areas NEW YORK | February 6, 2025 - MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced financial results for the fourth quarter and full year ended December 31, 2024. 4Q24 select financial and operational highlights* Full Year ...

Wall Street analysts forecast that MarketAxess (MKTX) will report quarterly earnings of $1.70 per share in its upcoming release, pointing to a year-over-year decline of 7.6%. It is anticipated that revenues will amount to $203.35 million, exhibiting an increase of 3.1% compared to the year-ago quarter.The consensus EPS estimate for the quarter has been revised 3.6% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial ...

Electronic trading platform MarketAxess Holdings Inc. (MKTX) is set to report fourth-quarter 2024 results on Feb. 6, 2025, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $1.70 per share on revenues of $203.35 million.See the Zacks Earnings Calendar to stay ahead of market-making news.Fourth-quarter earnings estimates have been revised downward over the past month. The bottom-line projection indicates a decrease of 7.6% from the year-ago ...