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MarketAxess Reports Record Fourth Quarter Revenue of $38.6 Million, Record Pre-Tax Income of $14.4 Million and Diluted EPS of $0.23

NEW YORK Feb. 2, 2011

Fourth Quarter Financial Highlights*

  • $38.6 million
  • $14.4 million
  • Record pre-tax margin of 37.4%, up from 32.5%
  • $16.0 million
  • $8.9 million $0.23

*All comparisons versus fourth quarter 2009.

Full Year 2010 Financial Highlights**

  • $146.2 million
  • $50.9 million
  • Record pre-tax margin of 34.8%, up from 26.3%
  • $57.3 million
  • $31.4 million $0.80

**All comparisons versus full year 2009.

December 31, 2010

Richard M. McVey

Fourth Quarter Results

$38.6 million $34.0 million $14.4 million $11.0 million $8.9 million $0.23 $5.4 million $0.14 $1.3 million $0.03

$32.3 million $28.6 million $18.9 million $104.3 billion $16.5 million $92.0 billion

$3.8 million $3.1 million $2.6 million $2.3 million

$24.2 million $22.9 million December 31, 2010 December 31, 2009

Full Year 2010 Results

December 31, 2010 $146.2 million $114.4 million $50.9 million $30.0 million $31.4 million $0.80 $16.1 million $0.42

December 31, 2010 $122.2 million $96.1 million $72.0 million $402.3 billion $52.8 million $299.3 billion

$13.6 million December 31, 2010 $9.8 million $10.4 million $8.5 million

December 31, 2010 $95.3 million $84.4 million $6.2 million $2.0 million $1.6 million $1.5 million December 31, 2010 $7.1 million $3.0 million

$1.3 million $0.03

Dividend

$0.09 March 2, 2011 February 16, 2011 $0.02

Share Repurchase Program Update

June 2010 November 2010

Balance Sheet Data

December 31, 2010 $300.0 million $197.5 million December 31, 2010 $264.8 million January 24, 2011

Guidance for 2011

$101.0 million to $107.0 million

$4.0 million to $6.0 million

The Company anticipates that the overall effective tax rate for 2011 will be between 38% and 41%.  In addition, the Company expects that its remaining unrestricted tax loss and tax credit carryforwards will be utilized during 2011.

Non-GAAP Financial Measure

EBITDA is a non-GAAP financial measure.  The Company believes that this non-GAAP financial measure, when taken into consideration with the corresponding GAAP financial measure, is important in gaining an understanding of the Company’s operating results.  See attached schedule for a full reconciliation of GAAP net income to EBITDA.

Webcast and Conference Call Information

Richard M. McVey T. Kelley Millet Tony DeLise 10:00 a.m. Eastern time http://www.marketaxess.com http://www.marketaxess.com

About MarketAxess

MarketAxess operates a leading electronic trading platform that enables investment industry professionals to efficiently trade corporate bonds and other types of fixed-income instruments. MarketAxess’ patented trading technology allows institutional investor clients to request competitive, executable bids or offers from multiple broker-dealers simultaneously, and to execute trades with the broker-dealer of their choice. Over 800 institutional investors are active users of the MarketAxess trading platform, accessing the global liquidity provided by MarketAxess’ 78 broker-dealer clients in U.S. high-grade corporate bonds, European bonds, high yield and emerging markets bonds, agency bonds, asset-backed and preferred securities and credit default swaps. MarketAxess also offers a number of trading-related products and services, including: market data to assist clients with trading decisions; connectivity solutions that facilitate straight-through processing; technology services to optimize trading environments; and execution services for exchange-traded fund managers and other clients.

New York London Chicago Salt Lake City www.marketaxess.com

Cautionary Note Regarding Forward-Looking Statements

www.marketaxess.com

MarketAxess Holdings Inc.

Consolidated Statements of Operations

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2010

2009

2010

2009

(In thousands, except per share data)

(unaudited)

Revenues

Commissions

U.S. high-grade

$                22,234

$                18,928

$                83,796

$                62,557

Eurobond

4,420

5,988

18,656

20,339

Other

5,607

3,651

19,728

13,236

Total commissions

32,261

28,567

122,180

96,132

Technology products and services

3,778

3,058

13,648

9,778

Information and user access fees

1,722

1,574

6,681

6,252

Investment income

285

342

1,192

1,222

Other

559

418

2,527

1,055

Total revenues

38,605

33,959

146,228

114,439

Expenses

Employee compensation and benefits

13,998

13,788

56,446

50,274

Depreciation and amortization

1,552

1,666

6,350

6,790

Technology and communications

2,669

2,045

9,982

8,436

Professional and consulting fees

2,134

1,732

8,503

6,869

Occupancy

646

1,054

2,997

3,129

Marketing and advertising

1,009

878

3,075

2,882

General and administrative

2,152

1,757

7,965

6,010

Total expenses

24,160

22,920

95,318

84,390

Income before taxes

14,445

11,039

50,910

30,049

Provision for income taxes

5,498

5,603

19,482

13,947

Net income

$                  8,947

$                  5,436

$                31,428

$                16,102

Per Share Data:

Earnings per share:

Basic

$                    0.25

$                    0.15

$                    0.86

$                    0.44

Diluted

$                    0.23

$                    0.14

$                    0.80

$                    0.42

Weighted-average common shares:

Basic

32,334

33,328

33,159

33,264

Diluted

38,642

38,760

39,051

38,082

MarketAxess Holdings Inc.

Consolidated Condensed Balance Sheet Data

December 31, 2010

December 31, 2009

(In thousands)

(unaudited)

Assets

Cash and cash equivalents

$                      124,994

$                     103,341

Securities available-for-sale

72,552

70,997

Deferred tax assets, net

19,813

23,980

All other assets

82,162

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