MarketAxess reports mixed financial results for Q1 2022

abdelaziz Fathi

MarketAxess Holdings Inc. (Nasdaq: MKTX), an operator of electronic trading platform for fixed-income securities, has reported its quarterly results for the period ending March 31, 2022.


The group had continued its 2021 momentum heading into the new year, but it reported an uneven performance across key measures, which included revenues, profits, and trading volumes.

MarketAxess reported its Q1 revenues at $186.1 million, which marks its second highest level ever of quarterly revenue. This listed firm attributes the solid figure to a record activity across US Treasury, emerging markets and municipal bond revenue. However, the revenue for the three months through March 2022 was 5 percent lower than it was in the same period of 2021.

On the bottom line scale, MarketAxess reported its gross profit at $105.8 million in EBITDA and EBITDA margin of 56.8 percent. These metrics were higher by a quarter when compared to the Q4 2021. But on a year-over-year basis, the core profit was lower by 7 percent from a year ago.

By and large, the broker underwent an oscillating string of results throughout the fiscal year, though taken as a whole it managed to report a record trading average daily volume (ADV) of $37.5 billion. This figure was up 22 percent, driven principally by record US Treasury ADV of $25.1 billion; credit ADV of $12.0 billion, with record emerging markets ADV of $3.1 billion and record municipal bond ADV of $288 million.

Per its own statistics, MarketAxess delivered $201 million in estimated transaction cost savings for clients through its liquidity pool “Open Trading.” The company’s board of directors declared a quarterly cash dividend of $0.70 per share, payable on May 18, 2022.

“Record trading volumes this quarter surpassed pandemic level highs, driven principally by strong sequential improvement in credit and record U.S. Treasury volumes. This strong performance reflects the excellent strides we have made in executing our growth strategy, expanding our geographic diversification and establishing a broader foundation for growth,” said Rick McVey, chairman and CEO of MarketAxess.

“We have delivered these results as market conditions continue to improve, with wider spreads and increased spread volatility driving significant cost savings for our clients through Open Trading, our differentiated liquidity pool. We believe we are well positioned to capture the global e-trading opportunity ahead of us due to our expanded global product footprint, improving market conditions and our continued focus on trading automation and all-to-all trading.”

Based in New York, MarketAxess operates an electronic trading platform for fixed-income securities as well as provides market data and post-trade services for the fixed-income markets.


Read this next


BlockDAG Dominates with New Dashboard Features and Enhanced Roadmap, Eclipsing Solana and Polygon Developments

Discover how BlockDAG’s cutting-edge dashboard and promising 30,000x ROI outshine developments in Solana and Polygon, positioning it as a leading investment.


BlockDAG Dashboard Update, A Step Towards Transparency Fuels FOMO in Crypto Whales, Presale Garners $32.8M Amid Retik Finance Listing

Discover why investors are choosing BlockDAG after its dashboard update and $32.8M presale, surpassing Retik Finance listing on Bitrue.


Discover 5 Altcoins to Skyrocket Your Wealth This Cycle 🚀

The bull run of 2024 ignites fresh excitement for anyone looking to increase their wealth.


BlastUP Presale Hits $7M; Final Days to Buy $BLP

BlastUP, the premier launchpad on Blast, has confirmed its robust utility by successfully launching its first IDOs. As its presale nears completion, it continues to garner significant attention from crypto enthusiasts. The amount of funds raised so far is approaching 7 million, and BlastUP already boasts a large and passionate community of supporters.


BlockDAG Network: The Mobile Mining Revolutionizing Crypto Mining

A Simple Guide on How to Mine BDAG and its Benefits.


BlockDAG’s $600M Masterplan Shocks the World: Outperforms Retik Finance After Jaw-Dropping Piccadilly Circus Spectacle

Discover how BDAG dominates the global market as Retik Finance struggles at launch, showcasing a robust $600M growth plan and securing strong investor confidence.


Top Business Ide­as for Success in 2024

Looking for the best busine­ss ideas to start in 2024? Our guide will help you find promising options. We­ cover sectors like digital, we­llness, and green innovations se­t for growth next year. 

Digital Assets

Coinbase seeks to dismiss SEC lawsuit citing new crypto laws

Crypto exchange Coinbase has renewed its efforts to appeal a judge’s ruling in its ongoing case with the U.S. Securities and Exchange Commission (SEC), citing recent legislative developments in Congress.

Digital Assets

Elon Musk mourns Kabosu, Dogecoin responds with price jump

Dogecoin (DOGE) price climbed on Friday after the passing of Kabosu, the Shiba Inu who inspired the meme cryptocurrency.