MarketAxess Reports Third Quarter 2022 Results

About this update from Marketaxess Holdings, Inc.

[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nMarketAxess 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 financial results for the third quarter of 2022.\n\nRick McVey, Chairman of the Board and CEO of MarketAxess, commented:\n\n“We delivered another quarter of record market share gains across our expanded product set in the third quarter, driven by increased value for clients from Open Trading liquidity. Our diversified liquidity pool is helping both investor and dealer clients navigate through incredibly difficult and volatile fixed-income trading conditions. The foundation of our business has never been stronger with growing market share in existing as well as new products, an expanded global footprint and record numbers of active clients.\n“We believe the growth in both public and private debt around the world, combined with higher interest rates, creates a long runway for growth in fixed income e-trading in the years ahead. We are in a strong position to capitalize on this opportunity due to our significant global institutional client network and our unique capabilities in all-to-all trading.”\n\n3Q22 financial and operational highlights*\n\n\nRecord levels of estimated market share driving strong growth in trading volume. Estimated market share records across composite corporate bond1 (+170 bps), high-yield (+400 bps), Eurobonds (+450 bps) and municipals (+270 bps).\n\n\nRevenues of $172.1 million, up 6%. Excluding the impact of foreign currency fluctuations, revenues would have increased approximately 9%.\n\n\nTotal expenses of $95.8 million, up 9%. Excluding the impact of foreign currency fluctuations, expenses would have increased approximately 13%.\n\n\nDiluted EPS of $1.58 on net income of $59.3 million, compared to $1.52 in the prior year, representing an increase of 4%.\n\n\n$94.3 million in EBITDA, up 6%, and EBITDA margin of 54.8%, in line with the prior year.\n\n\nBoard declared $0.70 per share dividend.\n\n\nRecord 1,972 total active clients, up 7%, and a record 993 active international clients, up 6%, reflecting the continued expansion of our global liquidity pool.\n\n\nRecord 11,530 active traders on the platform, up 6% from the prior year.\n\n\n\n\nTotal...

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