Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

9432

MarketAxess reports Q4 revenues of USD45.1 million

RELATED TOPICS​

MarketAxess Holdings Inc, the operator of an electronic trading platform for US and European high-grade corporate bonds, emerging markets bonds and other types of fixed-income securities, has announced Q4 2011 revenues of USD45.1 million. This compares with USD38.6 million for the fourth quarter of 2010.

Pre-tax income was USD18.9 million, compared to USD14.4 million for the fourth quarter of 2010, an increase of 30.6%, while pre-tax margin was 41.8%, compared to 37.4% for the fourth quarter of 2010. Net income totalled USD11.5 million, or USD0.29 per share on a diluted basis, compared to USD8.9 million, or USD0.23 per share on a diluted basis, for the fourth quarter of 2010.

Commission revenue for the fourth quarter of 2011 totalled USD38.8 million on total trading volume of USD125.2 billion, compared to USD32.3 million in commission revenue on total trading volume of USD104.3 billion for the fourth quarter of 2010. U.S. high-grade trading volume as a percentage of FINRA’s high-grade TRACE trading volume increased to an estimated 12.2%, compared to an estimated 9.6% for the fourth quarter of 2010.

All other revenue, which consists of technology products and services, information and user access fees, investment income and other revenue, increased slightly to USD6.4 million, compared to USD6.3 million for the fourth quarter of 2010.

Total expenses for the fourth quarter of 2011 increased 8.7% to USD26.3 million, compared to USD24.2 million for the fourth quarter of 2010. The increase in expenses during the fourth quarter of 2011 was primarily due to a 100% reserve against accounts receivable due from MF Global Inc. and a write-off of a minority investment. These two charges totaled USD1.5 million, or USD0.02 per share, in the aggregate.
The effective tax rate for the fourth quarter of 2011 was 38.8%, compared to 38.1% for the fourth quarter of 2010.

Employee headcount as of 31 December, 2011 was 232, compared to 227 as of December 31, 2010.

“We closed the year on a strong note and are pleased to report record revenues, pre-tax income and pre-tax margins for the full year of 2011,” says Richard M McVey (pictured), chairman and chief executive officer of MarketAxess. “Our estimated U.S. high grade market share continued to progress higher throughout 2011, culminating in a record 12.2% in the fourth quarter. We believe that the ongoing changes to global market structure, driven in part by regulatory reform, will continue to favor e-trading in the cash and derivative credit markets.”
 

Latest News

Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15..
New analysis by London-based Nickel Digital Asset Management reveals 38 listed companies with a combined..
Bloomberg has announced that for the first time, its proprietary Bloomberg Second Measure (BSM) transaction..

Related Articles

Global ESG Investing
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of climate change and ESG factors in state policymaking...
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of..
Trends
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100 million deals announced this month alone...
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100..
Different flavours
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led, multi-boutique global asset manager with over USD20 billion under management, recently undertook a survey with 204 UK investment professionals, seeking insights into their perceptions and attitudes towards boutique asset managers...
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led,..
UK map
UK local government pension schemes (LGPS) are leading the charge on investment in private markets issuing tenders set to be worth billions of pounds in the coming years...
UK local government pension schemes (LGPS) are leading the charge on investment in private markets issuing tenders set to be..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by