Marketaxess Holdings, Inc. · NASDAQ:MKTX
Marketaxess — Goldman Sachs 2025 Financial Services Conference
8 slides from Marketaxess's conference presentation, Dec 9, 2025
Slide 1: Goldman Sachs 2025 Financial Services Conference
Goldman Sachs 2025 Financial Services Conference Chris Concannon, CEO Ilene Fiszel Bieler, CFO
Slide 2: The MarketAxess advantage
The MarketAxess advantage DEEP & DIFFERENTIATED LIQUIDITY1 1,000+ unique liquidity providers on Open Trading (“OT”) 22% of OT trading volume responded to by non-dealers; 33% of OT trading volume initiated by dealers Liquidity income l e fixed iqu tiv id c a ity ost pro PROPRIETARY TRADING DATA & ANA
Slide 3: Modernization is driving innovation and setting the foundation for our targets & ASR
Modernization is driving innovation and setting the foundation for our targets1 & ASR 2020 - 2024 2023 - 2025 2025 - 2027 2026 - 2028¹ Accelerated Investments/ Recent financial innovation driving Increased investment to fortify incremental 8% – 9% performance capital return our strengths revenue gen
Slide 4: Approximately 50% of our revenue (non-U.S. credit) grew at ~15%
Approximately 50%1 of our revenue (non-U.S. credit) grew at ~15%2 MKTX’s Differentiated Liquidity3 % of Trading Volume through Open Trading 27% 26% Emerging Markets Eurobonds +15% Growth ~50% of Total Revenue Services Revenue7 Total Total Rates +18% Non-U.S. Commission Revenue Credit Other +12% Reve
Slide 5: A return to U.S. credit revenue growth is fundamental to our future success
A return to U.S. credit revenue growth is fundamental to our future success CLIENT-FOCUSED TECHNOLOGY AND PRODUCT INNOVATION EXPECTED TO DRI VE HIGHER LEVELS OF REVENUE/MARKET SHARE Key ✓ Item completed Current Current Est. Market Channels Progress-to-date and action plans ❑ Item in progress Market
Slide 6: Case study: Ongoing modernization is driving innovation with new auction protocol
Case study: Ongoing modernization is driving innovation with new auction protocol KEY TAKEAWAYS Deploys the first front-to-back Delivery of innovative new Integrates our all-to-all Supports the growing implementation of our new protocol, the first closing differentiated liquidity, critical indexatio
Slide 7: Disclosures
Disclosures ©2025 MarketAxess Holdings Inc. (the "Company"). MarketAxess Corporation is a member of FINRA and SIPC. MarketAxess Canada Company is a member of the Canadian Investment Regulatory Organization (CIRO). MarketAxess Europe Limited (04017160), MarketAxess Capital Limited (09777893), and Mar
Slide 8: Slide 8
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