MarketAxess (MKTX) Reports 2009 Q3 Earnings of $0.12
October 28, 2009 7:41 AM
MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for U.S. and European high-grade corporate bonds, emerging markets bonds and other types of fixed-income securities, today announced results for the third quarter ended September 30, 2009.
Total revenues for the third quarter of 2009 increased 32.3% to $30.0M, compared to $22.7M for the third quarter of 2008. Pre-tax income was $8.5M, compared to $2.1M for the third quarter of 2008, an increase of 307.2%. Pre-tax margin was 28.5%, compared to 9.3% for the third quarter of 2008. Net income totaled $4.6M, or $0.12 per share on a diluted basis, compared to $1.5M, or $0.04 per share on a diluted basis, for the third quarter of 2008.
Commission revenue for the third quarter of 2009 totaled $25.3M on total trading volume of $80.4 billion, compared to $17.2M in commission revenue on total trading volume of $49.0B for the third quarter of 2008. U.S. high-grade trading volume as a percentage of FINRA's high-grade TRACE trading volume increased to an estimated 6.5%, compared to an estimated 6.4% for the third quarter of 2008 and 4.7% for the second quarter of 2009.
MarketAxess operates one of the leading platforms for the electronic trading of corporate bonds and certain other types of fixed-income securities, serving as an electronic platform through which our approximately 700 active institutional investor clients can access the liquidity provided by our 67 broker-dealer clients.
