Commission revenue increased 12% to a record $192 million driven by strong market volumes and new initiatives across three strategic channels.
Diluted earnings per share increased 11% to $1.91, or 16% excluding notable items.
Free cash flow over the trailing 12 months increased 5% to $360 million, with $80 million spent on share repurchases year-to-date.
MarketAxess delivered record second quarter 2025 financial results with 11% revenue growth to $219 million, including a 2 million USD benefit from foreign currency fluctuations.
Operating expenses increased 6% excluding notable items, driven by higher employee compensation and technology costs.