MarketAxess Remains a Story of Likely Cyclical Headwinds and Secular Tailwinds
While we continue to see some metrics that lend a cautious tone to MarketAxess' growth story, it’s hard to deny that the company should still have a long runway for growth ahead. The company reported total revenue of $104 million, up 10% sequentially and 17% from the previous year, and operating income grew to $55.6 million, up 10% sequentially and 25% from the previous year. Total average daily trading volume on the MarketAxess platform also increased 15% sequentially and 25% from the previous ...MarketAxess Holdings operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its patented technology. Through its Open Trading? protocols, the company executes trades in certain bond between and among institutional investor and broker-dealer clients. The company also provides trading-related products and services, including: Composite+ pricing and other market data products to assist clients with trading decisions; auto-execution and other execution services for clients requiring specialized workflow solutions; connectivity solutions that facilitate straight-through processing; and technology services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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