MarketAxess Holdings Inc. (MKTX) Earnings Call Transcripts

MarketAxess Holdings Inc.'s Latest Earnings Call - June 9, 2026

In the first quarter of 2026, MarketAxess Holdings Inc. reported record volumes and strong revenue growth, driven by significant investments in portfolio trading and automation. The company achieved double-digit revenue growth, with management highlighting that 50% of its top-line revenue is growing at this rate. Guidance for the next three years remains unchanged, with expectations for 8% to 9% annual revenue growth and operating margin expansion of 75 to 125 basis points. Management emphasized strong demand for new issuance and automation tools, indicating a robust market outlook despite geopolitical volatility.

Reported metrics

Guidance from management

Management maintained its long-term guidance of 8% to 9% annual revenue growth and operating margin expansion of 75 to 125 basis points over the next three years.

What management said

And if you think about just to sort of put a bit of a point in some numbers around what Chris just said, even in just recently in May, if you look at our block trading in EM, those volumes were up about 35%. So those are the types of KPIs and indicators that we are constantly looking at and tracking to see the traction for the investments that we're putting in.

It's seamless actually. It's quite -- it's iterative to the next level of algos that we're providing, and we're already exploring algos that will be listening to AI data. That's very powerful. The data of an algorithm is more important sometimes than the trade decision. So collecting that data about what's happening in the market, what direction is the market trading a specific sector, that can be very helpful in how...

What analysts pressed on

Analysts expressed concerns regarding the sustainability of growth in the face of geopolitical volatility and whether the company can maintain its market share during periods of heavy new issuance. There were questions about how automation will impact trading behaviors long-term.

Main topics on the call

• Record Volume and Revenue Growth — MarketAxess experienced record trading volumes in Q1 2026, contributing to double-digit revenue growth. CEO Chris Concannon stated, 'the first quarter was a record quarter in top line growth, double-digit growth.'
• Strong Demand for New Issuance — Management noted a significant demand for new issues, with many oversubscribed, indicating strong market conditions. Concannon remarked, 'we are in record territory of new issue.'
• Investment in Automation and Portfolio Trading — The company is heavily investing in automation tools, which are gaining traction among clients. Concannon highlighted, 'clients want to automate their trading,' reflecting a shift in market structure.
• Maintained Long-term Guidance — Management reaffirmed its three-year plan for 8% to 9% annual revenue growth and operating margin expansion. CFO Ilene Bieler stated, 'that 8% to 9% of revenue growth is average annual growth over time over the 3-year ti...

Read the full MarketAxess Holdings Inc. transcript (June 9, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 68 MarketAxess Holdings Inc. earnings call transcripts on record, spanning January 29, 2020 to June 9, 2026. Based on this history, MarketAxess Holdings Inc. reports quarterly. The most recent call on file is dated June 9, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MKTX

Exchange

NasdaqGS

Country

US

Sector

Financials

Industry

Capital Markets

Calls on record

68

First call

January 29, 2020

Most recent

June 9, 2026

Reporting cadence

quarterly