MarketAxess (MKTX) revenue breakdown
By product, Commissions is the largest at 87% of fiscal 2025 revenue; Post-trade Services grew fastest, 17% a year over 9 years.
By region, United States is the largest at 67% of fiscal 2025 revenue; United Kingdom grew fastest, 12% a year over 3 years.
Revenue by product
Fiscal years, as MarketAxess reports them in its 10-K filings; fiscal 2025 total $846M.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Commissions | $332M | $355M | $391M | $464M | $634M | $621M | $641M | $663M | $712M | $735M | 87% |
| Information Services | $23M | $26M | $28M | $31M | $34M | $38M | $39M | $46M | $51M | $53M | 6% |
| Post-trade Services | $11M | $11M | $15M | $16M | $19M | $39M | $37M | $40M | $42M | $44M | 5% |
| Technology Services | $1M | $1M | $1M | $1M | $879,000 | $846,000 | $926,000 | $3M | $12M | $14M | 2% |
Revenue by region
Fiscal years, as MarketAxess reports them in its 10-K filings; fiscal 2025 total $846M.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | — | — | — | — | — | — | $511M | $524M | $569M | $568M | 67% |
| United Kingdom | — | — | — | — | — | — | $127M | $147M | $162M | $177M | 21% |
| Other | — | — | — | — | — | — | $81M | $82M | $87M | $101M | 12% |
| Americas | — | — | $369M | $427M | $583M | $569M | — | — | — | — | — |
| United States | $312M | $333M | — | — | — | — | — | — | — | — | — |
| Europe | — | — | $60M | $75M | $90M | $110M | — | — | — | — | — |
| United Kingdom | $54M | $59M | — | — | — | — | — | — | — | — | — |
| Asia | — | — | $6M | $10M | $16M | $20M | — | — | — | — | — |
| Other | $2M | $1M | — | — | — | — | — | — | — | — | — |
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Where does MarketAxess make its money?
In fiscal 2025, by product: Commissions $735M, Information Services $53M, Post-trade Services $44M, Technology Services $14M.
From MarketAxess's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.