The company reports 11% revenue growth in Q4 and substantial gains in 2023.
The new platform and volume growth drove positive results.
Richard McVey, the Founder and Executive Chairman of MarketAxess. Source: YouTube
The electronic
trading platform MarketAxess Holdings Inc. announced today (Wednesday) its
financial results for the fourth quarter (Q4) and the full 2023. The company
reported solid revenue growth of almost 11%, along with higher trading volumes
across several products and regions.
MarketAxess Reports Solid
Growth in Q4 and Full 2023 Results
Total
revenues for the fourth quarter rose 10.9% year-over-year (YoY) to $197.2
million. This includes revenues from the acquisition of Pragma and a positive
impact from foreign currency fluctuations. Net income increased 18% to $69.6
million, while diluted EPS was up 16.5% to $1.84.
For 2023,
MarketAxess posted a YoY increase of 5% in total revenues to $753 million. Net
income rose 3% to $258 million and diluted EPS grew 3% to $6.85. Also, the results were visibly better than in Q3 2023.
Source: MarketAxess
“In 2023,
we made significant strides in enhancing our client franchise, increasing
client engagement with MarketAxess X-Pro, our new trading platform, and
delivering solid growth in ADV across new product areas and regions,” commented
Chris Concannon, the CEO of MarketAxess.
The growth
was driven by record revenues in information services, an increase of 14.6% in the quarter,
as well as post-trade services revenues, that improved 24.1%. MarketAxess benefited
from solid volume increases internationally, with average daily trading volume
(ADV) from emerging markets and Eurobonds rising 10.8%.
Municipal
bonds ADV hit a record high in the quarter, climbing 7.8% YoY. Portfolio
trading volumes reached record levels, jumping 35.8% from the prior year. The ADV for
the last quarter was significantly boosted by results from November when it
reached an all-time high with $303 billion in credit trading volume in a single
month. December’s results did not disappoint investors’ expectations.
Future Outlook
In terms of
outlook, MarketAxess provided full-year 2024 revenue guidance for the recent
acquisition of Pragma in the mid-single digit percentage range compared to
Pragma's Q4 2023 revenue base. The company expects total expenses for 2024
between $480 million and $500 million, including Pragma operating expenses
estimated at $33-35 million.
“We are
entering 2024 with a more favorable backdrop for fixed-income, and our client
franchise has never been stronger,” the CEO added. “We are focused on realizing
the full potential of the investments we have made to drive continued growth in
the quarters ahead.”
Overall,
MarketAxess delivered a positive quarter to finish 2023, with higher trading
volumes across several products and geographies. The company saw strong
adoption of its new trading platform MarketAxess X-Pro and continues working to
drive growth from its investments.
In an announcement by MarketAxess in November 2023, the company revealed that Christopher Gerosa, the Chief Financial Officer, will leave his position on 31 January 2024. Gerosa plans to move into a new position at a technology solutions company that serves the commercial banking industry.
The electronic
trading platform MarketAxess Holdings Inc. announced today (Wednesday) its
financial results for the fourth quarter (Q4) and the full 2023. The company
reported solid revenue growth of almost 11%, along with higher trading volumes
across several products and regions.
MarketAxess Reports Solid
Growth in Q4 and Full 2023 Results
Total
revenues for the fourth quarter rose 10.9% year-over-year (YoY) to $197.2
million. This includes revenues from the acquisition of Pragma and a positive
impact from foreign currency fluctuations. Net income increased 18% to $69.6
million, while diluted EPS was up 16.5% to $1.84.
For 2023,
MarketAxess posted a YoY increase of 5% in total revenues to $753 million. Net
income rose 3% to $258 million and diluted EPS grew 3% to $6.85. Also, the results were visibly better than in Q3 2023.
Source: MarketAxess
“In 2023,
we made significant strides in enhancing our client franchise, increasing
client engagement with MarketAxess X-Pro, our new trading platform, and
delivering solid growth in ADV across new product areas and regions,” commented
Chris Concannon, the CEO of MarketAxess.
The growth
was driven by record revenues in information services, an increase of 14.6% in the quarter,
as well as post-trade services revenues, that improved 24.1%. MarketAxess benefited
from solid volume increases internationally, with average daily trading volume
(ADV) from emerging markets and Eurobonds rising 10.8%.
Municipal
bonds ADV hit a record high in the quarter, climbing 7.8% YoY. Portfolio
trading volumes reached record levels, jumping 35.8% from the prior year. The ADV for
the last quarter was significantly boosted by results from November when it
reached an all-time high with $303 billion in credit trading volume in a single
month. December’s results did not disappoint investors’ expectations.
Future Outlook
In terms of
outlook, MarketAxess provided full-year 2024 revenue guidance for the recent
acquisition of Pragma in the mid-single digit percentage range compared to
Pragma's Q4 2023 revenue base. The company expects total expenses for 2024
between $480 million and $500 million, including Pragma operating expenses
estimated at $33-35 million.
“We are
entering 2024 with a more favorable backdrop for fixed-income, and our client
franchise has never been stronger,” the CEO added. “We are focused on realizing
the full potential of the investments we have made to drive continued growth in
the quarters ahead.”
Overall,
MarketAxess delivered a positive quarter to finish 2023, with higher trading
volumes across several products and geographies. The company saw strong
adoption of its new trading platform MarketAxess X-Pro and continues working to
drive growth from its investments.
In an announcement by MarketAxess in November 2023, the company revealed that Christopher Gerosa, the Chief Financial Officer, will leave his position on 31 January 2024. Gerosa plans to move into a new position at a technology solutions company that serves the commercial banking industry.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support.
Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions.
We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread.
You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support.
Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
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While that’s still fresh, the next launches across the FM Events portfolio are already taking shape.
FM Singapore takes place on the 12-14 of May, connecting the APAC market with its own distinct audience and priorities. FMAS:26 heads to Cape Town on 26–27 May shortly after, bringing the focus to Africa’s trading and fintech ecosystem.
Different regions. Different audiences. Same commitment to building the right rooms for meaningful conversations.
More details coming very soon. The launches are imminent. - here you go
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While that’s still fresh, the next launches across the FM Events portfolio are already taking shape.
FM Singapore takes place on the 12-14 of May, connecting the APAC market with its own distinct audience and priorities. FMAS:26 heads to Cape Town on 26–27 May shortly after, bringing the focus to Africa’s trading and fintech ecosystem.
Different regions. Different audiences. Same commitment to building the right rooms for meaningful conversations.
More details coming very soon. The launches are imminent. - here you go
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📰 Industry sources
📊 Reports & regulators
🔎 Verification before publication
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the editorial process: direct industry sources, reports, regulators, social media signals, and thorough cross-checking before anything goes live.
📰 Industry sources
📊 Reports & regulators
🔎 Verification before publication
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- OnePrime’s vision for growth over the next 12–24 months
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🏆 Award Highlight: Best Trading Infrastructure Broker
👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview
Recorded live at FMLS:25 London, this exclusive executive interview features Jerry Khargi, Executive Director at OnePrime, in conversation with Andrea Badiola Mateos from Finance Magnates.
In this in-depth discussion, Jerry shares:
- OnePrime’s journey from a retail-focused business to a global institutional liquidity provider
- What truly sets award-winning trading infrastructure apart
- Key trends shaping institutional trading, including technology and AI
- The importance of transparency, ethics, and reputation in long-term success
- OnePrime’s vision for growth over the next 12–24 months
Fresh from winning Finance Magnates’ Best Trading Infrastructure Broker, Jerry explains how experience, mentorship, and real-world problem solving form the “special sauce” behind OnePrime’s institutional offering.
🏆 Award Highlight: Best Trading Infrastructure Broker
👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview
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What makes an update worth covering in financial media?
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, editorial focus starts with relevance: stories that serve the industry, support brokers and technology providers, and help decision-makers navigate their businesses.
A reminder that strong financial journalism is built on value, not volume.
