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MarketAxess jumps 29% after ICE deal announcement
MarketAxess reported Q2 2026 revenue of $218 million, roughly flat year over year, even as its services revenue rose 14% and portfolio trading average daily volume climbed 33% to a record $2 billion.
MarketAxess Holdings shares surged about 29% after the company said it is being acquired by Intercontinental Exchange. The deal announcement on July 30 sent the stock higher, with shares trading around $162 as of July 31.
MarketAxess, a New York-based electronic trading platform operator, serves about 2,100 institutional investors and broker-dealers and operates across U.S. high-grade and high-yield bonds, emerging market debt, eurobonds, municipal bonds, and government securities. Its Open Trading marketplace is described as an all-to-all, anonymous liquidity pool for investors, asset managers, and dealers.
In its latest results, MarketAxess posted Q2 2026 revenue of $218 million, roughly flat year over year, while diluted earnings per share came in at $1.93. The company said services revenue rose 14% to a record level and portfolio trading average daily volume increased 33% to a record $2 billion, with an operating margin of 41.1%.
With most revenue tied to commissions, MarketAxess has also expanded post-trade services, data analytics, and compliance tools, the report notes. Despite the sharp move tied to the ICE acquisition news, the stock remains below its November 2020 all-time high of $606.45.