Marketaxess Holdings Inc (MKTX) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Exhibit 99.1

MARKETAXESS REPORTS FIRST QUARTER 2019 RECORD REVENUES

OF $124.5 MILLION, RECORD OPERATING INCOME OF $63.2 MILLION AND

RECORD DILUTED EPS OF $1.39

First Quarter Financial Highlights^*

NEW YORK, April 24, 2019 – 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 March 31, 2019.

“MarketAxess trading volumes set records across all of our core products in a quarter with rapidly narrowing credit spreads,” said Rick McVey, Chairman and CEO of MarketAxess. “Open Trading continued to contribute to our growth as market participants seek to benefit from increased liquidity options and significant transaction cost savings. The trend to automated execution is gaining momentum in fixed income globally, putting MarketAxess in a strong position to capitalize on its technology, global client network and extensive data resources.”

First Quarter Results

Total revenues for the first quarter of 2019 increased 8.5% to $124.5 million, compared to $114.7 million for the first quarter of 2018. Operating income was $63.2 million, compared to $60.2 million for the first quarter of 2018, an increase of 5.0%. Operating margin was 50.8%, compared to 52.5% for the first quarter of 2018. Net income totaled $52.5 million, or $1.39 per share on a diluted basis, compared to $47.9 million, or $1.27 per share, for the first quarter of 2018.

Commission revenue for the first quarter of 2019 increased 9.7% to $112.8 million, compared to $102.8 million for the first quarter of 2018. Variable transaction fees increased 11.7% to $89.1 million on total trading volume of $526.2 billion for the first quarter of 2019, compared to variable transaction fees of $79.8 million on total trading volume of $465.0 billion for the first quarter of 2018. U.S. high-grade trading volume as a percentage of FINRA’s high-grade TRACE trading volume decreased to an estimated 17.6% for the first quarter of 2019, compared to an estimated 18.0% for the first quarter of 2018.

All other revenue, which consists of information services, post-trade services and other revenue, decreased to $11.7 million, compared to $11.9 million for the first quarter of 2018. The decrease in all other revenue was principally due to the unfavorable impact of the stronger U.S. dollar of $0.5 million offset by higher data revenue.

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