MarketAxess (MKTX) Forms Bullish Move Amid Quarter News: Good Buy?

MarketAxess (MKTX) today announced its financial results for the third quarter ended September 30, 2021. MKTX stock is stable and is trading at $411.19. Despite the weak secondary trading environment, continued growth in the company’s client base and adoption of automated solutions helped drive third-quarter revenue and client satisfaction.

Total revenues for the third quarter ended September 30, 2021, decreased 1.2% to $162.0 million, from $164.0 million in the third quarter of 2020. Commission revenue decreased 5.2% to $145.28 million in the third quarter of 2021. The decrease was primarily due to the impact of the acquisition of MuniBrokers in April 2021. All other revenue, which includes information services and post-trade services, grew to $19.3 million in the third quarter of 2020, from $13.4 million in the third quarter of 2020. The rise in all other revenue was mainly due to the acquisition of Regulatory Reporting Hub in November 2020.