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MarketAxess Reports Second Quarter 2012 Revenues Of $48.8 Million, Pre-Tax Income Of $21.2 Million And Diluted EPS Of $0.34

Total expenses for the second quarter of 2012 increased 6.7% to $27.6 million, compared to $25.9 million for the second quarter of 2011. This increase was primarily due to higher marketing and advertising costs, depreciation and amortization costs and technology and communications costs.

The effective tax rate for the second quarter of 2012 was 40.4%, compared to 40.0% for the second quarter of 2011.

Employee headcount as of June 30, 2012 was 247, compared to 236 as of June 30, 2011.

Dividend

The Company’s board of directors declared a quarterly cash dividend of $0.11 per share of common stock outstanding, to be paid on August 23, 2012 to stockholders of record as of the close of business on August 9, 2012.

Balance Sheet Data

As of June 30, 2012, total assets were $289.7 million and included $188.2 million, or $5.03 per diluted share, in cash, cash equivalents and securities available-for-sale. Total stockholders’ equity as of June 30, 2012 was $261.7 million.

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 understanding the Company's operating results. See the attached schedule for a full reconciliation of GAAP net income to EBITDA.

Webcast and Conference Call Information

Richard M. McVey, chairman and chief executive officer, and Antonio L. DeLise, chief financial officer, will host a conference call to discuss the Company’s financial results and outlook on Wednesday, July 25, 2012, at 10:00 a.m. Eastern time. To access the conference call, please dial 888.895.5479 (U.S.) or +1.847.619.6250 (international). The passcode for all callers is 32913615. The Company will also host a live audio Webcast of the conference call on the Investor Relations section of the Company's website at http://www.marketaxess.com. A replay of the call will be made available by dialing 888.843.7419 (U.S.) or +1.630.652.3042 (international) for one week after the announcement. The passcode for replay callers is 32913615. The Webcast will also be archived on http://www.marketaxess.com for 90 days following the announcement.

About MarketAxess

MarketAxess operates a leading electronic trading platform that enables fixed-income market participants to efficiently trade corporate bonds and other types of fixed-income instruments using MarketAxess’ patented trading technology. Over 1,000 investor and broker-dealer firms are active users of the MarketAxess trading platform, accessing global liquidity 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.

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