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Marketaxess Holdings Inc (MKTX) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Marketaxess Holdings Inc

CIK: 1278021 Ticker: MKTX

Exhibit 99.1

 

LOGO

MARKETAXESS REPORTS FOURTH QUARTER 2020 REVENUES

OF $171.3 MILLION, OPERATING INCOME OF $91.7 MILLION AND

DILUTED EPS OF $1.91

12 Consecutive Years of Record Volume, Revenue and Earnings

Company Announces Increase in Regular Quarterly Dividend to $0.66 per Share, up from $0.60

Fourth Quarter Financial Highlights*

 

   

Revenues of $171.3 million, up 32%

 

   

Operating income of $91.7 million, up 51%

 

   

Operating margin of 53.5%, up from 46.9%

 

   

Diluted EPS of $1.91, up 45% from $1.32

 

   

Open TradingTM credit volume of $218.1 billion, up 63%

 

   

Record Estimated U.S. high-grade market share of 22.8%, up from 19.9%

 

   

Record Estimated U.S. high-yield market share of 17.1%, up from 10.6%

 

* 

All comparisons versus fourth quarter 2019.

Full Year 2020 Financial Highlights*

 

   

Record revenues of $689.1 million, up 35%

 

   

Record operating income of $374.7 million, up 49%

 

   

Record operating margin of 54.4%, up from 49.1%

 

   

Record diluted EPS of $7.85, up 45% from $5.40

 

   

Record Open TradingTM credit volume of $861.1 billion, up 61%

 

* 

All comparisons versus full year 2019.

NEW YORK, January 27, 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 and year ended December 31, 2020.

“In the midst of an economic crisis brought on by the pandemic, the value delivered to our clients through our unique liquidity solutions surged to new all-time highs in 2020,” said Rick McVey, Chairman and CEO of MarketAxess. “New sources of liquidity delivered through Open Trading drove over $1 billion in estimated transaction cost savings to our clients, exceeding total company revenue. Strong market share gains in all core trading products drove revenue growth of 35% for the year, and operating income growth of 49%. In addition, we continue to expand our product pipeline for future growth with new initiatives in Rates, Munis, Data and Post-Trade Services. New records were achieved in active clients trading with over 1,800 institutional investor and dealer firms now utilizing our global marketplace.”

 

1


The following information was filed by Marketaxess Holdings Inc (MKTX) on Wednesday, January 27, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Marketaxess Holdings Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual 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 (Tables)
Acquisitions - Additional Information (Detail)
Acquisitions - Summary Of Acquired Intangible Assets And Useful Lives (Detail)
Acquisitions - Summary Of Preliminary Purchase Price Allocation (Detail)
Capitalized Software, Furniture, Equipment And Leasehold Improvements
Capitalized Software, Furniture, Equipment And Leasehold Improvements (Tables)
Capitalized Software, Furniture, Equipment And Leasehold Improvements - Additional Information (Detail)
Capitalized Software, Furniture, Equipment And Leasehold Improvements - Capitalized Software Development Costs, Furniture, Equipment And Leasehold Improvements, Net Of Accumulated Depreciation And Amortization (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 Agreement
Credit Agreement - 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 - Fair Values And Unrealized Losses On Corporate Debt Investments (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 - 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 (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Difference Between The Company's Reported Provision For Income Taxes And The U.S. Federal Statutory Rate (Detail)
Income Taxes - Reconciliation Of The Unrecognized Tax Benefits (Detail)
Income Taxes - Schedule Of Provision For Income Taxes (Detail)
Income Taxes - Summary Of Company's Net Deferred Tax Assets (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Schedule Of Components Of Occupancy 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)
Parent Company Information
Parent Company Information (Tables)
Parent Company Information - Condensed Statements Of Cash Flows (Detail)
Parent Company Information - Condensed Statements Of Financial Condition (Detail)
Parent Company Information - Condensed Statements Of Operations And Comprehensive Income (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)
Retirement And Deferred Compensation Plans
Retirement And Deferred Compensation Plans - 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)
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 - Assumptions Used For The Black-Scholes Option-Pricing Model To Determine The Per Share Weighted Average Fair Value For Options Granted (Detail)
Stock-Based Compensation Plans - Restricted Stock And Performance Share Activity (Detail)
Stock-Based Compensation Plans - Stock Option Activity (Detail)
Stock-Based Compensation Plans - Stock-Based Compensation Expense (Detail)
Stock-Based Compensation Plans - Summary Of Performance Of Share Activity For Annual Awards (Detail)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Detail)
Stockholders' Equity - Summary Of The Companys Change In The Common Stock (Detail)
Ticker: MKTX
CIK: 1278021
Form Type: 10-K Annual Report
Accession Number: 0001564590-21-006981
Submitted to the SEC: Fri Feb 19 2021 5:20:28 PM EST
Accepted by the SEC: Fri Feb 19 2021
Period: Thursday, December 31, 2020
Industry: Security Brokers Dealers And Flotation Companies

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