MarketAxess (MKTX)
Financials · financial market infrastructure / electronic trading · NASDAQ
MarketAxess is a premier electronic trading platform for global fixed-income markets, offering end-to-end trading and data solutions.
What MarketAxess does
MarketAxess is a leading electronic trading platform that enables fixed-income market participants to trade corporate bonds and other fixed-income instruments. The company provides a suite of electronic trading solutions, information services, and post-trade services to institutional investors and broker-dealers globally.
Themes: electronic trading, fixed-income market digitization, fintech, market infrastructure
Fundamentals
- Price$162.11 as of 2026-08-21 close
- Market cap$5.7B as of 2026-08-21
- 1-year return-13.2% 2025-08-21 close $186.85 → 2026-08-21 close $162.11
- P/E18.68 as of 2026-08-24
- Net margin+35.2% as of 2026-08-24
- Gross margin+88.6% as of 2026-08-24
- ROE+24.7% as of 2026-08-24
- Debt / equity0.09 as of 2026-08-24
- Revenue growth (YoY)+3.9% as of 2026-08-24
- Revenue CAGR (3y)+5.6% SEC XBRL
- Beta0.80 as of 2026-08-24
- Last reported earnings2026-07-30 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +1.2%; at least 5 years of non-decreasing per-share dividends (SEC XBRL) — we do not hold the year before it, so the real streak may be longer.
How MKTX compares in its sector
- price-to-earnings ratiomiddle range 525 covered Financials peers, as of 2026-08-24
- net profit margintop 25% 538 covered Financials peers, as of 2026-08-24
- operating margintop 25% 534 covered Financials peers, as of 2026-08-24
- gross margintop 25% 176 covered Financials peers, as of 2026-08-24
- return on equitytop 25% 575 covered Financials peers, as of 2026-08-24
- 3-year revenue CAGRmiddle range 347 covered Financials peers
- indicated dividend yieldbottom 25% 453 covered Financials peers, as of 2026-08-24
- free cash flow (absolute dollars, latest fiscal year)middle range 431 covered Financials peers, as of FY2025
Position among covered Financials companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Top 10 scores & list membership
MKTX is not currently in any published Top 10 list. Its scores are below.
Long-term score
56.3 #286 of 987 scored · #120 of 191 in Financials
Financial health 87th (debt to equity 0.1, free cash flow margin 25.1%) and profitability 82nd (operating margin 40.5%, return on equity 24.7%); weakest is valuation (27th, price to book 5.9, price to earnings 18.7).
Short-term score
49.4 #833 of 1,704 scored · #142 of 277 in Financials
Volume and participation 83rd: it gapped 29.8% above the previous close and has not traded back through the level it left behind — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed; trend 67th: a strong uptrend, with buyers in control; weakest is momentum 46th: its RSI momentum gauge is overbought (a stretched reading). Its score is docked 10 points for overextended (RSI above 75 or stochastic above 90).
Scores as of 21 Aug 2026. Each bar is a percentile: how this company ranked against every company the score ranked, 0–100. A list is a published formula and its output, not a recommendation. Method version 2.
Dividend coverage (FY2025)
Covered by reported results. In FY2025, MKTX's dividend was covered by reported results (earnings payout 47%, free-cash-flow payout 31%). This describes past coverage, not a forecast.
- Earnings payout47% dividends / net income
- Free-cash-flow payout31% dividends / (operating cash flow − capex)
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
How MarketAxess looks technically
MarketAxess (MKTX) is trading 2.6% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed below its 200-day average about 387 trading days ago — a "death cross", a bearish long-term signal. A strong uptrend is in place — ADX, a 0–100 trend-strength gauge, is 61, with buyers in control. Momentum is stretched — its 14-day RSI (a 0–100 momentum gauge) is 81, in overbought territory (above 70). MACD, a trend-momentum gauge, turned bearish about 3 trading days ago (its momentum flipped negative). It made a new 20-day high about 17 trading days ago. It is 17.3% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 2.6% above its 200-day average, the long-term trend line — a longer-term uptrend | +2.6% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $131.93 | $131.93 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $158.00 | $158.00 |
| Swing structure | its recent peaks and dips disagree — one of them is rising while the other is not, so there is no clean up or down pattern in the swings | mixed — one of the two is not confirming |
| Last swing turn | its last significant turn was a swing high 22 calendar days ago — the swings before that are what the structure reading is measured on | 22 sessions |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 387 trading days ago — a "death cross", a bearish long-term signal | 387 sessions |
| Above the 200-day after a dip | it recently dipped to its 200-day average (the long-term trend line) and has since climbed back above it — now about 2.6% above | +2.6% |
| Trend strength (14-day ADX) | a strong uptrend is in place — ADX, a 0–100 trend-strength gauge, is 61, with buyers in control | 61.4 |
Momentum
3
| 14-day RSI | momentum is stretched — its 14-day RSI (a 0–100 momentum gauge) is 81, in overbought territory (above 70) | 81.4 |
|---|---|---|
| Position in its 14-day range | it is trading in the lower half of its 14-day range ($161.74 to $162.75) — its "stochastic" reading is 37 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. Read that with care: its whole 14-day range is only about 0.6% of the price, so being at one end of it is a smaller move than it sounds — a company pinned near an agreed takeover price does this. | 36.6 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bearish about 3 trading days ago (its momentum flipped negative) | 3 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $195.97 | $195.97 |
|---|---|---|
| From the 52-week high | it is 17.3% below its 52-week high (its highest price of the past year) | -17.3% |
| Above the 52-week low | it is 49.1% above its 52-week low (its lowest price of the past year) | +49.0% |
| Below the 52-week high | it is 17.3% below its highest point of the past year | 17.3% |
| Since a 20-day breakout | it made a new 20-day high about 17 trading days ago | 17 sessions |
| Since a 55-day breakout | it made a new 55-day high about 17 trading days ago | 17 sessions |
| All-time high | its highest closing price on record is $606.45 (set on 2020-11-09) | $606.45 |
| Given back of the 52-week move | over the past year its closes ranged ($109.09 to $193.61), and it has recovered close to two thirds of its fall from last year’s high — 63% of it. Chart-watchers call 61.8%-65% given back the "golden pocket", and this is inside it — for this company that is $161.32 to $164.03. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 62.7% |
| From the all-time high | it is 73.3% below its all-time high | -73.3% |
| Nearest price level | it is sitting right on a resistance level at $162.91 — a price it turned at three times since 2025-10-06, most recently on 2026-07-30. Since 2024-08-21 it has 2 such levels below the current price and 10 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +0.5% |
| All-time low | its lowest closing price on record is $3.96 (set on 2008-10-16) | $3.96 |
| Above the all-time low | it is 3993.7% above its all-time low | +3,994% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are unusually wide versus its own recent history (wider than about 87% of the past ~6 months) | 87th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $2.12 between its high and its low — about 1.3% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $2.12 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $127.31 and $185.36 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $127.31 – $156.33 – $185.36 |
| Typical daily range (% of price) | its price moves about 1.3% in a typical session — among the calmest in the catalog. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 1.3% |
| Stretch from the 200-day average | it is trading 1.9 daily ranges above its 200-day average price (2.6% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 1.9 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.97× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
1
| Since a doji | 6 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 6 sessions ago |
|---|
Price gaps
3
| Gap at the open | it opened on 2026-08-21 at essentially the same price it closed at the session before — no meaningful overnight gap | +0.0% |
|---|---|---|
| Open gap | it gapped 29.8% above the previous close 16 sessions ago and has not traded back through the level it left behind at 125.73 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +29.8% |
| Gap filled | a 2.1% gap up opened on 2026-07-13 has been "filled" 29 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 29 sessions ago |
Price streaks
1
| Closing streak | it has closed higher 2 sessions in a row, a +0.23% move over the run — an unbroken run of up days, which describes what has already happened and says nothing about the next session | 2 sessions up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock beat the market by 42.1 percentage points (the stock gained 44.4% while the market gained 2.3%) | +42.1% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 15.9 percentage points (the stock gained 19.0% while the market gained 3.1%) | +15.9% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 21.6 percentage points (the stock lost 10.6% while the market gained 11.1%) | -21.6% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 33.7 percentage points (the stock lost 13.2% while the market gained 20.5%) | -33.7% |
Signal agreement
2
| Bullish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bullish state: a strong uptrend, with buyers in control, trading above its 200-day average, trading above the Ichimoku cloud — these describe past price behaviour, not a forecast | 3 of 9 |
|---|---|---|
| Bearish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, its RSI momentum gauge is overbought (a stretched reading), MACD momentum is negative, lagging the market over 6 months — these describe past price behaviour, not a forecast | 4 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 19% above the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the side traders read as an established uptrend, with the band below acting as the level that would have to give way. The band itself is thick, spanning 11.7% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | +19.4% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 5% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $154.06 — a volume-weighted average of daily closes over 157 sessions, not a true tick-by-tick VWAP. | +5.2% |
|---|---|---|
| Vs the average paid since it last reported | the price is sitting right on the average price paid since it last reported on 2026-07-30 (its 8-K), so the typical buyer over that stretch is roughly break-even. That average is $162.47 — a volume-weighted average of daily closes over 17 sessions, not a true tick-by-tick VWAP. | -0.2% |
Price levels it has turned at before
MKTX last closed at $162.11 on 2026-08-21. Since 2024-08-21 it has turned at 2 prices below its last close and 10 above; the 2 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $162.91 | Resistance | 0.5% above the last close | turned there three times · 2025-10-06 to 2026-07-30 |
| $157.38 | Support | 2.9% below the last close | turned there three times · 2025-11-03 to 2026-02-06 |
| $176.97 | Resistance | 9.2% above the last close | turned there six times · 2025-09-04 to 2026-01-16 |
| $182.69 | Resistance | 12.7% above the last close | turned there five times · 2025-09-29 to 2026-04-07 |
| $112.48 | Support | 30.6% below the last close | turned there three times · 2026-06-08 to 2026-07-21 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
No Elliott-wave labelling currently fits its swings: the recent highs and lows do not satisfy the three rules a five-wave count has to obey, so there is no count to show rather than a count we are unsure about.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · Tested and reclaimed 200-day support · Overbought (14-day RSI above 70) · MACD just crossed bearish (12/26/9) · in a strong, established uptrend (ADX) · lagging the market | Learn: moving average · golden cross · adx · rsi · macd · breakout · fifty two week high low
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingHold (3.00 mean, 1=Strong Buy…5=Strong Sell) — 9 analysts
- Mean price target$158.00 range $124.00 – $167.00; median $167.00
Analyst estimates, as of 2026-08-22. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for MKTX
- Consensus EPS estimate$1.97 next reporting period, as of 2026-08-22
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Dependence on trading volumes in fixed-income markets, which can be volatile.","Intense competition from established electronic trading platforms and traditional broker-dealer models."]
What changed in the latest 10-Q
AI-assisted comparison of MKTX's 10-Q filed 2026-05-07 against the prior one filed 2025-11-07.
Management's Discussion & Analysis (MD&A)
- Added:
- Added reference to Form 10-K for year ended December 31, 2025 (in place of 2024) in Forward-Looking Statements section
- Added phrase 'could, may' to forward-looking statement identifiers in Forward-Looking Statements section
- Added 'and other markets' after 'global fixed-income' in Executive Overview description of client base
- Added description of MarketAxess X-Pro (X-Pro) as next-generation trading platform with multiple trading protocols and workflow tools
- Added description of CP+ as 'AI-driven pricing engine' integrated into X-Pro
- Added paragraph on automated execution protocols enabling pre-defined trading parameters and seamless execution
- Added phrase 'maintain and expand' to objective statement (changed from 'create the leading' to 'create, maintain and expand the leading')
- Added reference to 'first three months of 2026' market conditions with event-driven volatility in Economic, Political and Market Factors section
- Added reference to $592.9 million in available borrowing capacity under Credit Agreement
- Removed:
- Removed detailed reference to specific product types in Executive Overview (U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S. government bonds)
- Removed phrase 'Approximately 2,100 institutional investor and broker-dealer firms use our patented trading technology to efficiently trade'
- Removed description of leveraging 'diverse set of trading protocols, automated and algorithmic trading solutions, intelligent data and index products'
- Removed specific reference to Pragma acquisition and its role in increasing technology capabilities
- Removed detailed market volume statistics (U.S. high-grade up 9.0%, U.S. high-yield up 21.0%) and reference to March/April volatility and credit spreads
- Removed reference to 'first nine months of 2025' market backdrop
- Removed reference to emerging markets and eurobonds volume increases
- Removed entire paragraph regarding the One Big Beautiful Bill Act (OBBBA) enacted July 4, 2025
- Reworded:
- Changed 'to our clients across the global fixed-income markets' to 'to approximately 2,100 institutional investor and broker-dealer clients across the global fixed-income and other markets'
- Changed objective from 'create the leading global network' to 'create, maintain and expand the leading global electronic network'
- Changed reference from 'duration of bonds traded' to 'duration of U.S high grade bonds traded'
- Changed Executive Overview structure from detailed product and capability listing to more concise overview with focus on X-Pro platform and CP+ engine
- Consolidated discussion of data products from separate mentions to integrated description within X-Pro platform discussion
- Notes:
- The newer filing text appears truncated at 'Competitors, including companies in which some of our broker-dealer clients have invested, have developed or acquired electronic trading platforms or have announced their intention to explore the development of electronic platforms or informat' - full comparison of Competitive Landscape section not possible
- The older filing text is also truncated at 'The most impactful provisions to our business inc' - full comparison of tax provisions discussion not possible
- Comparison is based on available text; complete document review would be needed for full assessment
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 3 open-market sales by insiders in the last 90 days.
- Last 30 days0 buys · 1 sell ($16260) — 1 selling insider
- Last 90 days0 buys · 3 sells ($39375) — 1 selling insider
- Last 180 days0 buys · 4 sells ($54074) — 1 selling insider
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-10. As of 2026-08-25.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about MKTX's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Congressional trading disclosures
U.S. House members publicly disclose their own, their spouse's, and dependent children's stock transactions under the STOCK Act. We hold 3 matched disclosures for MKTX from U.S. House Clerk Periodic Transaction Report filings.
Congressional trading disclosures →Institutional ownership (13F)
6 institutional 13F filers reported holding MKTX as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 6
- Reported shares held 7,170,799
- Reported value $1,183,038,424
reported quarterly holdings change (2025-12-31 → 2026-03-31): 0 new, 2 increased, 4 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
MKTX had 1,533,503 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
MKTX had 4.36% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 1 days to cover at the same settlement.
- Reported short interest (shares) 1,533,503
- Short interest (% of shares outstanding) 4.36%
- Prior settlement (shares) 2,103,650
- Reported change -27.1%
- Days to cover (reported) 1
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Tradeweb Markets (TW)
- Bloomberg Terminal
- MarketAxess competitors (via SEC) include inter-dealer brokers and other electronic trading venues
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does MarketAxess (MKTX) do?
MarketAxess is a leading electronic trading platform that enables fixed-income market participants to trade corporate bonds and other fixed-income instruments. The company provides a suite of electronic trading solutions, information services, and post-trade services to institutional investors and broker-dealers globally.
What sector is MarketAxess (MKTX) in?
MarketAxess (MKTX) is classified in the Financials sector. Its industry is financial market infrastructure / electronic trading. It trades on NASDAQ.
Does MKTX pay a dividend?
Yes — MarketAxess (MKTX) pays a dividend, with an indicated yield of about 1.24% and at least 5 years of non-decreasing per-share dividends (SEC EDGAR XBRL) — we do not hold the year before it, so the real streak may be longer (market data, as of 2026-08-24). Informational only — not financial advice.
Who are MarketAxess's (MKTX) competitors?
Notable peers of MarketAxess (MKTX) include Tradeweb Markets, Bloomberg Terminal and MarketAxess competitors (via SEC) include inter-dealer brokers and other electronic trading venues. This peer set is informational only — not financial advice.
Has there been recent Congressional stock trading in MKTX?
Yes — we hold 3 matched STOCK Act disclosures for MKTX from U.S. House Clerk Periodic Transaction Report filings. These are legally-required disclosures (often filed 30–45 days after the trade), may belong to a U.S. House member, their spouse, or a dependent child, and are not an indicator of company performance or investment advice.
Is MarketAxess (MKTX) overbought or oversold right now?
MarketAxess (MKTX) is currently in overbought territory (its 14-day RSI is 81, above 70) (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on MKTX come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.