Last10K.com

Marketaxess Holdings Inc (MKTX) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Marketaxess Holdings Inc

CIK: 1278021 Ticker: MKTX

Exhibit 99.1

 

LOGO

MARKETAXESS REPORTS THIRD QUARTER 2021 REVENUES

OF $162.1 MILLION, OPERATING INCOME OF $74.0 MILLION AND

DILUTED EPS OF $1.52

Third Quarter Highlights*

 

   

Revenues of $162.1 million, down 1%

 

   

Operating income of $74.0 million, down 16%

 

   

Operating margin of 45.7%

 

   

Diluted EPS of $1.52, down 15% from $1.78

 

   

Estimated U.S. high-grade market share of 21.4%

 

   

Record active total client firms of 1,848 and international client firms of 934

* All comparisons versus third quarter 2020 unless otherwise stated.

NEW YORK, October 20, 2021 – 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 results for the quarter ended September 30, 2021.

“Growth in our global client network and adoption of automated solutions continued in the third quarter in spite of generally weak secondary trading conditions in global credit trading. Credit spreads and credit spread volatility have remained at historically low levels throughout the year,” said Rick McVey, chairman and CEO of MarketAxess. “Investments in our international client business are paying off with record estimated market share in Eurobonds and strong trends in global Emerging Markets bond trading. Combined data and post-trade revenue also reached a new record this quarter, providing an important source of diversification.”

Third Quarter Results

Total revenues for the third quarter of 2021 decreased 1.2% to $162.1 million, compared to $164.0 million for the third quarter of 2020. Operating income was $74.0 million, compared to $87.8 million for the third quarter of 2020, a decrease of 15.7%. Operating margin was 45.7%, compared to 53.5% for the third quarter of 2020. Net income totaled $58.0 million, or $1.52 per share on a diluted basis, compared to $67.8 million, or $1.78 per share, for the third quarter of 2020.

Commission revenue for the third quarter of 2021 decreased 5.2% to $142.8 million, compared to $150.6 million for the third quarter of 2020. Variable transaction fees decreased 9.0% to $112.1 million for the third quarter of 2021, compared to variable transaction fees of $123.2 million for the third quarter of 2020. Commission revenue includes $1.2 million generated by MuniBrokers, which was acquired in April 2021. U.S. high-grade trading volume as a percentage of FINRA’s high-grade TRACE trading volume was an estimated 21.4% for the third quarter of 2021, compared to an estimated 22.2% for the third quarter of 2020.

 

1


The following information was filed by Marketaxess Holdings Inc (MKTX) on Wednesday, October 20, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Marketaxess Holdings Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Marketaxess Holdings Inc.

Continue

Assess how Marketaxess Holdings Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Marketaxess Holdings Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Rating

Learn More
Bullish Bearish Neutral
Filter by Sentiment:
All
Positive
Negative
Filter by Category:
All
Financial
Revenue
M & A
Other
Filter by Subcategory:
All
Cash Flow
Expense
Product
Income
Shares
Geography
Earnings
Dividend
Debt
Other
Inside Marketaxess Holdings Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (Parenthetical)
Consolidated Statements Of Operations
Acquisitions
Acquisitions - Additional Information (Detail)
Cash And Cash Equivalents And Restricted Cash
Cash And Cash Equivalents And Restricted Cash (Tables)
Cash And Cash Equivalents And Restricted Cash - Summary Of Reconciliation Of Cash And Cash Equivalents With Restricted Or Segregated Cash (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Credit Agreements And Short-Term Financing
Credit Agreements And Short-Term Financing - Additional Information (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Detail)
Earnings Per Share - Basic And Diluted Weighted Average Shares Outstanding Used To Compute Earnings Per Share (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Carrying Value Of Financial Asset And Liability Not Measured At Fair Value (Detail)
Fair Value Measurements - Summary Of Company's Investments (Detail)
Fair Value Measurements - Summary Of Fair Value Of Investments Based Upon Contractual Maturities (Detail)
Fair Value Measurements - Summary Of Foreign Currency Forward Contracts (Detail)
Fair Value Measurements - Summary Of The Change In The Company's Contingent Consideration Payable (Detail)
Fair Value Measurements - Valuation Of Company's Assets And Liabilities Measured At Fair Value (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Summary Of Company's Intangible Assets (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Schedule Of Components Of Lease Expense (Detail)
Leases - Schedule Of Maturity Of Lease Liabilities (Detail)
Leases - Summary Of Weighted Average Remaining Lease Term And Discount Rate (Details)
Organization And Principal Business Activity
Organization And Principal Business Activity - Additional Information (Detail)
Receivables From And Payables To Broker-Dealers, Clearing Organizations And Customers
Receivables From And Payables To Broker-Dealers, Clearing Organizations And Customers (Tables)
Receivables From And Payables To Broker-Dealers, Clearing Organizations And Customers - Schedule Of Receivables From And Payables To Broker-Dealers, Clearing Organizations And Customers (Detail)
Regulatory Capital Requirements
Regulatory Capital Requirements - Additional Information (Detail)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Additional Information (Detail)
Segment And Geographic Information - Summary Of Revenue And Long-Lived Assets (Detail)
Share Repurchase Program
Share Repurchase Program - Additional Information (Detail)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Detail 1)
Significant Accounting Policies - Additional Information (Detail)
Significant Accounting Policies - Summary Of Commission Revenue By Fee Type (Detail)
Significant Accounting Policies - Summary Of Information Services Revenue By Timing Of Recognition (Detail)
Significant Accounting Policies - Summary Of Post-Trade Services Revenue By Timing Of Recognition (Detail)
Significant Accounting Policies - Summary Of Revenue Recognized From Contract Liabilities And Remaining Balance (Detail)
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Tables)
Stock-Based Compensation Plans - Additional Information (Detail)
Stock-Based Compensation Plans - Stock-Based Compensation Expense (Detail)
Subsequent Event
Subsequent Event - Additional Information (Details)

Material Contracts, Statements, Certifications & more

Marketaxess Holdings Inc provided additional information to their SEC Filing as exhibits

Ticker: MKTX
CIK: 1278021
Form Type: 10-Q Quarterly Report
Accession Number: 0000950170-21-002319
Submitted to the SEC: Tue Oct 26 2021 4:59:11 PM EST
Accepted by the SEC: Tue Oct 26 2021
Period: Thursday, September 30, 2021
Industry: Security Brokers Dealers And Flotation Companies

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/mktx/0000950170-21-002319.htm