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New York-based MarketAxess Holdings Inc. (MKTX) operates an electronic trading platform for institutional investors and broker-dealer companies worldwide. With a market cap of $8.9 billion, MarketAxess offers institutional investors access to global liquidity in products like U.S. high-grade corporate bonds, emerging markets and high-yield bonds, European bonds, and more.
Shares of MarketAxess have underperformed the broader market over the past year. Over the past 52 weeks, MKTX dipped 3.4%, lagging behind the S&P 500 Index’s ($SPX) 26.1% returns. In 2024 alone, MKTX declined 18.9% compared to SPX’s 17.2% gains on a YTD basis.