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MarketAxess MKTX Commission Revenue — Other Variable Transaction

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Other financials

Income statement

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Revenue$218.4M-0.5%
Operating income$89.9M-2.2%
Net income$68.1M-4.3%
EPS (diluted)$1.93+1.0%

Balance sheet

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Cash & equivalents$419.7M-35.5%
Total debt$178.9M+158%
Total equity$1.2B-10.6%
Total assets$2.4B+22.6%

Cash flow

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Operating cash flow-$75.3M-354%
CapEx$649.0K-46.2%
Free cash flow-$75.6M-373%

Valuation

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Market cap$5.72B-18.3%
Enterprise value$5.48B-14.7%
P/E18.7×-12.8×
P/S6.6×-1.8×

Profitability

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Operating margin40.5%-1.0pp
Net margin35.2%+8.6pp
FCF margin31.1%-19.1pp

Returns & leverage

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Return on equity23.3%+6.9pp
Debt / equity0.1×+0.1×

Where this comes from

Reported directly by MarketAxess in its filing.

Tagged under the XBRL concept mktx:OtherVariableTransaction.

The source filing: MarketAxess’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:10 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-340249
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Variable transaction fees
Disclosed trading$$93,06698,088$197,790$193,543
Open Trading – matched principal trading44,92447,31994,15490,371
U.S. government bonds - matched principal trading4,3995,3299,7149,858
Other10,3097,33721,00612,292
Total variable transaction fees152,698158,073322,664306,064
Distribution fees and unused minimum fees34,19733,69767,70267,049
Total commissions$$186,895191,770$390,366$373,113

Item 1. Financial Statements (Unaudited)

FAQ

What is MarketAxess's commission revenue — other variable transaction?
MarketAxess (MKTX) reported commission revenue — other variable transaction of $10.31M in Q2 2026.
How has MarketAxess's commission revenue — other variable transaction changed year-over-year?
MarketAxess's commission revenue — other variable transaction increased by 40.5% year-over-year, from $7.34M to $10.31M.
What does commission revenue — other variable transaction mean?
This metric tracks supplemental revenue streams derived from variable transaction-based activities that fall outside of standard brokerage or principal trading fees. It often includes ancillary services, specialized execution tools, or new product offerings that scale with trading volume. Monitoring this metric helps identify emerging revenue diversification and the success of new platform features.

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